Spandana Sphoorty Financial Ltd has successfully completed the allotment of 8,500 secured redeemable non-convertible debentures (NCDs) worth ₹85 crore and approved a three-tranche expansion program totaling up to ₹425 crore, marking a significant step in the company’s debt capital market strategy.
Completed NCD Allotment
The initial tranche was allotted with the following details:
| Parameter | Details |
| NCDs Allotted | 8,500 units |
| Face Value per NCD | ₹1,00,000 |
| Total Allotment Value | ₹85.00 crore |
| NCD Type | Listed, Rated, Senior, Secured, Redeemable |
| Placement Method | Private Placement |
| Allotment Date | December 23, 2025 |
Expanded Fundraising Program
The Management Committee approved a three-tranche NCD issuance program with varied tenures and payment structures:
| Tranche | Base Issue Size | Green Shoe Option | Total Potential Size | Tenure |
| Tranche-I | ₹90.00 crore (9,000 NCDs) | ₹60.00 crore (6,000 NCDs) | ₹150.00 crore | 30 months |
| Tranche-II | ₹50.00 crore (5,000 NCDs) | ₹25.00 crore (2,500 NCDs) | ₹75.00 crore | 27 months |
| Tranche-III | ₹125.00 crore (12,500 NCDs) | ₹75.00 crore (7,500 NCDs) | ₹200.00 crore | 30 months |
Payment and Listing Details
- Tranche-I and III: Quarterly interest payments with principal repayment structured quarterly; maturity on June 30, 2028.
- Tranche-II: Monthly interest payments with bullet principal repayment at maturity; tenure ending March 31, 2028.
- All tranches will be listed on BSE Limited, providing liquidity options for investors.
Strategic Implications
The completed allotment and the approved ₹425 crore multi-tranche program bring the company’s total potential fundraising to ₹510 crore. This initiative demonstrates Spandana Sphoorty’s strategic approach to accessing institutional capital through private placements, offering flexibility with green shoe options and tailored payment schedules to suit investor preferences.
Summary
Spandana Sphoorty Financial has strengthened its debt capital market presence by completing an ₹85 crore NCD allotment and approving a ₹425 crore multi-tranche expansion program, highlighting its strategic use of private placement routes to enhance funding flexibility and support growth initiatives.
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