Spandana Sphoorty to Raise ₹400 Crore via Rights Issue at ₹230 Per Share

Spandana Sphoorty Financial Limited announced a rights issue to raise up to ₹400 crore through the issuance of 1,73,91,304 partly paid-up equity shares at a price of ₹230 per share. The record date for determining eligible shareholders is set for July 24, 2025, and the rights issue will open on August 01, 2025, closing on August 11, 2025.

Rights Issue DetailsParticulars

Details

Total Issue Size

₹400 CroreNumber of Rights Equity Shares

1,73,91,304Rights Issue Price

₹230 per share (including a premium of ₹220 per share)Record Date

July 24, 2025Rights Issue Opening Date

August 01, 2025Closure of Rights Entitlement Trading

August 06, 2025Rights Issue Closing Date

August 11, 2025Rights Entitlement Ratio

10 Rights Equity Shares for every 41 Equity Shares heldISIN for Rights Entitlement

INE572J20011

Rights Issue Terms and Payment ScheduleThe issue price of ₹230 per rights equity share includes a face value of ₹10 and a premium of ₹220. The payment will be structured in installments, with ₹115 payable on application, comprising ₹5 towards face value and ₹110 towards premium. The remaining amount will be collected through one or more subsequent calls, as determined by the Board or Capital Raising Committee, to be completed on or before March 31, 2027, unless extended.Outstanding Equity SharesPrior to the rights issue, the company has 7,13,05,144 equity shares. Post the rights issue, the number of equity shares will increase to 8,86,96,448, assuming full subscription.Additional ApprovalsThe Board has also approved the Letter of Offer, which will be filed with the Securities and Exchange Board of India (SEBI), BSE Limited, and National Stock Exchange of India Limited.Corporate InformationThe meeting of the Board of Directors, during which these decisions were made, commenced at 03:00 p.m. and concluded at 03:50 p.m. on July 18, 2025.