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PADMAJA REDDY
Padmaja Reddy backs away from microfin, goes for goldMicrolending veteran Padmaja Reddy is exiting unsecured business by fiscal end to focus on gold loans, transitioning her firm Keertana Fins...- Spandana Sphoorty net profit rises 50% to Rs 75 cr in March-qtrSpandana had informed the stock exchanges about delay in submitting the financial results for the financial year ended March 31, 2022 as it...
- Padmaja Reddy rules out signing non-compete clause with present Spandana Sphoorty managementReddy founded Spandana in 1998 and successfully revived it to one of the country’s biggest microfinance lenders after going through the ord...
- Spandana Sphoorty's founder and former MD Padmaja Reddy moves courtSpandana called a board meeting on March 18 and announced the appointments of Saxena as MD and Ashish Damani as chief financial officer for...
- Spandana shareholders okay Rs 300 crore fundraisingA little over 81% of the company's shareholders approved the preferential allotment. Special resolutions like these needed 75% approval.
- Fresh trouble brewing at Spandana Sphoorty: Padmaja Reddy to challenge preferential allotment to Kedaara CapitalMicrofinance lender Spandana Sphoorty Financial faces fresh troubles over fundraising as some minority shareholders get ready to challenge ...
- Kedaara Capital and Valiant to buy Spandana preference shares at 21% premiumThe lender is in the process of seeking shareholders' approval for the same through e-voting, which commenced on February 15 and will conti...
- Padmaja Reddy plans her second stint, to build Keertana FinancialKeertana Financial would focus on secured gold loans and small ticket business loans, Reddy told ET in an exclusive interaction.
- Padmaja Reddy alleges exorbitant salary for new Spandana CEO, wants curb on salary for MFI chiefsEarlier, Spandana Sphoorty Financial managing director Padmaja G Reddy resigned from the microfinance lender following disagreement with pr...
- Spandana Sphoorty sets price band at Rs 853-856 for its Rs 1,200 crore IPOThe IPO comprises a fresh share sale for Rs 400 crore and an offer for sale for about Rs. 800 crore.
- Spandana to launch Rs 1200 crore IPOMicrofinance companies have to maintain a minimum capital adequacy (CAR) ratio of 15%.
- Vanteru Pratap Reddy attempts immolation over search at houseA flying squad comprising election officials reached Reddy's house late Monday night along with police, but he and his supporters prevented...
- Micro lender Spandana Sphoorty raises Rs 100 crore from Bandhan Bank in securitisation dealThrough the deal Spandana has securitised Rs 100 crore portfolio to Bandhan Bank through Pass Through Certificate.
- From brink of bankruptcy to Rs 1,850 crore portfolio: Amazing story of Spandana Sphoorty FinancialIn 2011, Spandana was saddled with Rs 2,200 cr of debt amid microfinance crisis in Andhra Pradesh. 6 years later, it is a leader of the len...
- Andhra crisis is now hurting MFIs' national interestThe recent SKS Microfinance results show Andhra Pradesh is a severe pain point for the sector. Neither banks nor the state government is ke...
- MFI promoters face hit in debt revampBanks' debt-restructuring proposals may reduce MFI promoters to minority shareholders as MFI loans will be converted into equity.
- Spandana Sphoorty: Poor women ownership vanished in 3 yearsSpandana went from being 93% owned by 20,000 poor women in March 2004 to 86% owned by promoters in March 2006. By March 2007, the sharehold...
- SKS Microfinance scrip tanks 5 pc on BSESKS Microfinance today tumbled after the Andhra Pradesh Police arrested three people working with it and another small lender Spandana.
- Police arrests staff of SKS & Spandana microfinance cos on harassment chargeThe Andhra Pradesh Police on Friday said it has arrested three people working with SKS Microfinance and Spandana on a complaint of harassme...
- Spandana raises Rs 80 cr from NCD issueSpandana Sphoorty Financial, the second-largest microfinance firm, has raised Rs 80 crore by issuing one year non-convertible debentures (N...
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