Microfinance company Spandana Sproory Financial Planning to stand up to 400 crore from those with shareholders by the issue of rights to parts. The company approved the plan on Tuesday.
The board will meet Friday to fix the issue price and other related items related to payment, the record date record of stock stocks.
The issue of rights is a part of the microfinance company plan to raise Rs 750 crore in FY26 equity.
A board committee was first formed to monitor capital-rising exercise. The interim chiech Pichor Sedhish Diloni said the promoter Kedaara Capital is expected to participate in the issue of rights.
Spandana sphoorty suffered an Rs 1035 annual net loss of FY25 while gross poor loan ratio jumped at 5.63% of total portfolio. It faced another Jolt when Chief Edekutive Shalabh Saxena suddenly climbed in April among the unknown frauds on the branch balance level.
The Company denies all allegations.
