Microfinance lender Spandana Sphoorty Financial will raise up to ₹300 crore by issuing bonds next week, the company said on Wednesday.
The board of directors in a meeting held on November 16, 2022, has approved to issue market-linked rated non-convertible debentures (NCDs) with a base issue size of ₹200 crore and green shoe option of ₹100 crore, the company said in a regulatory filing.
The tenure of bonds, to be allotted on November 22, 2022, will be 18 months.
The company said the bonds will carry an interest rate of 11.15 per cent per annum.
Shares of Spandana Sphoorty closed 1.81 per cent down at ₹560.65 apiece on BSE on Wednesday.