The board will meet once more on Friday to repair the worth of the problem and different associated issues corresponding to associated cost mechanism, rights entitlement ratio, the document date and timing of the problem, Spandana mentioned after Tuesday’s board assembly in regulatory filings to the inventory exchanges.
The rights challenge is part of the microfinance firm’s plan to lift as much as Rs 750 crore in fairness in FY26.
A board committee was earlier fashioned to supervise the capital elevating train. Interim chief govt Ashish Damani had earlier mentioned that the promoter Kedaara Capital is predicted to take part within the rights challenge.
Spandana Sphoorty suffered a Rs 1035 crore annual web loss in FY25 whereas its gross dangerous mortgage ratio jumped to five.63% of the entire portfolio. It confronted one other jolt when chief govt Shalabh Saxena abruptly stepped down in April amid suspicion of unreported frauds on the department degree and money stability mismatches.
The corporate nonetheless denied all of the allegations.
