Spandana Sphoorty Financial Ltd on Tuesday, December 23, said its board has approved the allotment of non-convertible debentures (NCDs) worth ₹415 crore through a private placement, as the microfinance lender looks to bolster its funding base.
In a regulatory filing, the company said it has allotted 41,500 rated, listed, senior, secured, redeemable and taxable NCDs, each with a face value of ₹1 lakh, pursuant to a board resolution passed on December 23, 2025.
Last month, the company announced the appointment of Venkatesh Krishnan as its managing director and chief executive officer, effective November 27.
Before joining Spandana Sphoorty, Krishnan headed the microfinance business at India’s largest private sector bank since 2018. During this period, he played a key role in scaling the self-help group (SHG) portfolio, which helped the bank win the Ministry of Rural Development’s ‘Best Private Bank’ award in FY22 and FY23. His earlier roles include serving as MD and CEO of IFMR Rural Channels, a board role at the Microfinance Institutions Network (MFIN), head of branch banking at HSBC, and chief distribution officer at L&T Insurance.
Q2 results
On the financial front, Spandana Sphoorty reported a sharp deterioration in its consolidated quarterly performance. Net sales fell 66.56% year-on-year to ₹229.55 crore in the September 2025 quarter, compared with ₹686.38 crore in the same period last year. The company posted a net loss of ₹249.13 crore for the quarter, compared with a loss of ₹216.32 crore a year earlier. EBITDA stood at a negative ₹203.30 crore in September 2025, versus a negative ₹24.73 crore in the year-ago quarter.
Shares of Spandana Sphoorty ended marginally higher on Tuesday, December 23, by 0.70% at ₹271.80 on the BSE.
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First Published: Dec 23, 2025 5:28 PM IS
