Spandana Sphoorty Secures ₹415-Cr NCDs Amidst Q2 Losses, Appoints New CEO

• Spandana Sphoorty's board approved a ₹415 crore NCD issue via private placement to strengthen its funding base.
• The company allotted 41,500 rated, listed, senior, secured, redeemable, and taxable NCDs, each with a face value of ₹1 lakh.
• Venkatesh Krishnan was appointed MD and CEO, effective November 27, bringing extensive microfinance experience.
• Q2 results showed significant deterioration: net sales fell 66.56%, net loss of ₹249.13 crore, and negative EBITDA.
• Despite poor financials, company shares closed marginally higher by 0.70% on December 23.

Why It Matters: Spandana Sphoorty raised ₹415 crore via NCDs and appointed a new CEO, despite significant Q2 losses.