The board will meet once more on Friday to repair the value of the problem and different associated issues akin to associated fee mechanism, rights entitlement ratio, the file date and timing of the problem, Spandana stated 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 stated that the promoter Kedaara Capital is predicted to take part within the rights challenge.
Spandana Sphoorty suffered a Rs 1035 crore annual internet loss in FY25 whereas its gross unhealthy mortgage ratio jumped to five.63% of the full portfolio. It confronted one other jolt when chief govt Shalabh Saxena abruptly stepped down in April amid suspicion of unreported frauds on the department stage and money steadiness mismatches.
The corporate nonetheless denied all of the allegations.
