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Spandana Sphoorty to Raise ₹150 Crore via NCDs at 11.25% Coupon
Spandana Sphoorty Financial Limited's Management Committee has approved the issuance of up to 15,000 Non-Convertible Debentures (NCDs) on a private placement basis. The total issue size is ₹150 crore, which includes a base issue and a green shoe option of ₹75 crore each. These secured NCDs carry a coupon rate of 11.25% per annum, payable monthly, with a tenure of 24 months. The principal repayment is structured quarterly, starting from March 17, 2026, until maturity in December 2027.
Key Highlights
Total fundraise of ₹150 crore including a ₹75 crore green shoe option
Coupon rate set at 11.25% per annum with monthly interest payout
Instrument tenure of 24 months with final maturity on December 17, 2027
Principal to be repaid in quarterly installments starting March 17, 2026
NCDs are senior, secured, and will be listed on the BSE Limited
👀 What to Watch
Investors should view this as a routine liquidity management and growth capital exercise. Monitor the company's ability to maintain net interest margins (NIMs) given the 11.25% cost of these funds.
