Spandana Sphoorty Financial share price gained in the early trade on August 23 as the company is going to consider fund raising on August 27.
At 09:23am, Spandana Sphoorty Financial was quoting at Rs 621, up Rs 1.25, or 0.20 percent, on the BSE.
A meeting of the management committee of the board of directors of the company is scheduled to be held on August 27, 2024, to consider the issue and offer of non-convertible debentures on private placement basis.
The management committee at its meeting held on August 09, approved the issuance of upto 5,000 senior, secured, rated, listed, redeemable, taxable, transferable, non-convertible debentures having face value of Rs 1,00,000 each at par on private placement basis.
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In the last month, the board approved the issuance of upto 15,000 Non-Convertible Debentures having face value of Rs 1,00,000 each at premium of Rs 244.80 per debenture including green shoe option of upto 5,000 NCDs aggregating upto Rs 150,00,00,000 on private placement basis.
In the quarter ended June 2024 the company's net profit declined 53 percent at Rs 55.71 crore.
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