Non-banking finance company Spandana Sphoorty Financial Ltd will raise up to ₹100 crore by issuing bonds on private placement basis.
The decision was taken by the board on Saturday, and the Hyderabad-based company informed BSE on Saturday.
It had approved the issue of 1,000 rated, listed, secured, redeemable non-convertible debentures (NCDs) aggregating up to ₹100 crore on a private placement basis, it said.
Spandana now operates in 18 States, with a gross loan portfolio of ₹6,829 crore as on March 31, 2020, catering to 25.7 lakh borrowers.