Business News

Spandana Sphoorty Financial raises Rs 337.5 crore via market-linked debentures

Spread the love

Spandana Sphoorty Financial Ltd (SSFL) has raised Rs 337.5 through the issuance of market-linked bonds (MLDs). Bonds pegged to the market are issued 30-month maturities with a yield of 11%. “The issue of MLD in SSFL, which is a microfinance institution (NBFCMFI) of non-bank financial institutions, has received strong interest and engagement from investors of HNI (the wealthy), family offices, and corporate treasury,” the statement said Wednesday. SSFL’s founder and managing director, PadmajaReddy, said the revenue helped the company expand its business at an accelerated pace. The statement added that if the price of a benchmarking government security (GSec) was 75% of its current price at maturity, investors would receive 11%. If it drops to 5075%, the investor will get a return of 10.5%. However, he said that if the price of GSec falls below 25% of its current value, investors will only get their principal back. The SSFL MLD is assigned an IND PPMLD A/Stable rating according to India’s rating, meaning lower credit risk, the statement added. The issuance was driven by online debt platform CredAvenue. Headquartered in Hyderabad, SSFL is headquartered in the 18th state. There are more than 1,000 points with a customer base of about 25 lakh.

NEWS SOURCE

Recent Posts

As Ola’s Bhavish Aggarwal Faces Criticism, Zomato’s Deepinder Goyal Receives Praise for PR Savvy

The contrasting public images of two prominent Indian startup founders, Zomato's Deepinder Goyal and Ola's…

2 months ago

Singham Again Trailer Launch: What to Expect

The excitement is palpable as Ajay Devgn and director Rohit Shetty gear up for the…

2 months ago

Hardik Pandya Impresses with No-Look Ramp Shot and All-Round Performance in India’s First T20I Win Against Bangladesh

Hardik Pandya showcased his prowess as an allrounder in T20 cricket, contributing significantly with a…

2 months ago

New Haryanvi Song “Bahu Chaudhariya Ki” Launched by Aman Jaji and Pranjal Dahiya

HR Beat Production has unveiled its latest Haryanvi hit, "Bahu Chaudhariya Ki," featuring artists Aman…

2 months ago

Apple’s iPhone 16 Pro Max: Improved Battery Life and Camera Features, but Missing Key AI Updates

Apple's highly anticipated iPhone 16 series is set to launch on Friday, with the flagship…

2 months ago

Music Director Vipin Reshammiya, Father of Himesh Reshammiya, Passes Away at 87

Vipin Reshammiya, father of Himesh Reshammiya, has passed away at the age of 87. He…

2 months ago

This website uses cookies.