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Microfinance lender Spandana Sphoorty Financial will raise up to Rs 300 crore by issuing bonds next week, the company said on Wednesday.
The board of directors in a meeting held on November 16, 2022, has approved to issue market-linked rated non-convertible debentures (NCDs) with a base issue size of Rs 200 crore and green shoe option of Rs 100 crore, the company said in a regulatory filing.
The tenure of bonds, to be allotted on November 22, 2022, have a tenure of 18 months.
The company said the bonds will carry interest at 11.15 per cent per annum.
Shares of Spandana Sphoorty closed 1.81 per cent down at Rs 560.65 apiece on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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