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SPANDANA SPHOORTY MFI
As costs remain high, MFIs raise ratesMicrofinance lending rates are rising for the poorest borrowers. This is happening despite a government credit guarantee scheme designed to...- Spandana Sphoorty Financial plans Rs 750-crore capital raise with Kedaara Capital's equity infusionSpandana Sphoorty Financial is considering a rights issue, potentially with Kedaara Capital's participation, to raise Rs 750 crore and bols...
- Spandana Sphoorty Financial downgraded by CareEdge, ICRA after Q3 resultsCareEgde Ratings: CareEdge and ICRA downgraded Spandana Sphoorty Financial’s debt ratings after weak Q3 results. The microfinance firm face...
- Spandana Sphoorty profit rises 79% in Q3The lender's asset quality improved year-on-year but slipped a bit sequentially. Saxena attributed this to the transition from monthly repa...
- Spandana Sphoorty sets 23% medium term growth targetSpandana Sphoorty Financial, a microfinance lender, is aiming to grow at a compounded rate of 23% in the next three-four years, which will ...
- Founder Padmaja Gangireddy plans to sell shares worth Rs 100 crore in Spandana Sphoorty Financial, engages investment banker to explore block dealPadmaja Gangireddy, founder of Spandana Sphoorty Financial, plans to sell a part of her 14.5% share in the firm she left one-and-a-half yea...
- 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...
- 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...
- Promoter-investor tussle hits Spandana Sphoorty MFIThe board of Spandana has accepted MD Padmaja G Reddy's resignation with immediate effect. It will be hiring an eminent industry veteran as...
- Buy Spandana Sphoorty, target price Rs 690: ICICI SecuritiesPromoters held 62.6 per cent stake in the company as of June 30, 2020, while FIIs held 11.6 per cent, DIIs 4.7 per cent and public and othe...
- Buy Spandana Sphoorty Financial, target price Rs 620: ICICI SecuritiesAccording to the brokerage, strong pre-provision operating profit (PPoP) margin at 16% and higher contingency buffer would ensure Spandana ...
- Spandana Sphoorty lists at 4% discount to issue priceAt the issue price, the stock traded at price-to-adjusted book value (P/ABV) of 2.4 times.
- Spandana Sphoorty IPO subscribed 6% on Day 1On Friday, the lender raised around Rs 360.28 crore from 18 anchor investors.
- Should you invest in Spandana Sphoorty IPO? Don’t subscribe just for listing gainsThe issue comprises fresh share sale for Rs 400 crore and an OFS for about Rs 800 crore.
- IndusInd in talks to buy Rs 1000 crore NPAs of SpandanaSpandana needed to restructure its debt following Andhra Pradesh microfinance crisis, triggered by reports of suicides of some over-indebte...
- Kotak Mahindra Bank slaps legal notice on TridentKotak Mahindra Bank has slapped a legal notice on Trident Microfin for defaulting on a loan it has availed from the private sector lender.
- No fresh MFI loans in AP a year after Microfinance OrdinanceMicrofinance institutions operating in Andhra Pradesh have stopped making fresh loans due to their mounting non-performing assets.
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