Spandana Sphoorty to raise ₹500 cr via secured NCDs; ₹200-cr green shoe option

Spandana Sphoorty Financial Ltd on Monday (April 20) said it has approved the issuance of up to ₹500-crore non-convertible debentures (NCDs) through private placement, including a green shoe option of ₹200 crore.

The Management Committee of the board cleared the proposal on April 20, 2026, for issuing up to 5,00,000 listed, rated, senior, secured, redeemable, taxable NCDs with a face value of ₹10,000 each. The debentures will be listed on BSE Ltd.

The issue includes a base size of ₹300 crore and a green shoe option of 2,00,000 NCDs aggregating ₹200 crore, taking the total issue size to ₹500 crore.

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The NCDs will carry a coupon of 11.25% per annum, payable monthly. Interest payments are scheduled on the 26th of each month, starting May 26, 2026, and continuing until April 26, 2028.

The tenure of the instrument is 729 days from the deemed date of allotment. The allotment is scheduled for April 28, 2026, with maturity on April 26, 2028.

Principal repayment will be made on a half-yearly basis on the 26th of the respective months, beginning October 26, 2026, and continuing until maturity. The debentures will be secured and redeemed at par.

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The company stated there are no special rights or privileges attached to the instrument, and no instances of delay or default in servicing of interest or principal. There are also no comments or communications regarding payment concerns. The proposal does not involve any cancellation or termination of issuance plans.

Shares of Spandana Sphoorty Financial Ltd ended at ₹221.50, down by ₹4.40, or 1.95%, on the BSE today, April 20.