Spandana Sphoorty Financial on Friday, July 18, said its board has approved the offer and issuance of partly paid-up equity shares of the company for an amount not exceeding ₹400 crore, by way of a rights issue.
Spandana Sphoorty rights issue details
Rights Issue Dates: The Spandana Sphoorty rights issue will open on Friday, August 1, 2025, and close on Monday, August 11, 2025. The last date for on-market renunciation of rights entitlements is Wednesday, August 6, 2025.
The last date for off-market renunciation is also August 11, 2025, ensuring that eligible shareholders have sufficient time to act on their entitlements.
Total Rights Issue Shares: The rights issue will comprise 17,391,304 partly paid-up equity shares with a face value of ₹10 each. This would aggregate to a total issue size of up to ₹400 crore.
Rights Issue Price: The price of each Rights Equity Share is fixed at ₹230, including a premium of ₹220 and a face value of ₹10.
Rights Issue Payment Schedule: The payment for the rights issue shares will be made in two tranches: ₹115 per share on application ( ₹5 towards face value and ₹110 towards premium). ₹115 per share on one or more subsequent calls, as determined by the Board or Capital Raising Committee, to be completed on or before March 31, 2027, unless extended.
Rights Issue Record Date: The record date for determining shareholders eligible to participate in the rights issue is Thursday, July 24, 2025.
Rights Entitlement Ratio: Eligible shareholders will receive 10 rights equity shares for every 41 fully paid-up equity shares held as of the record date.
Outstanding Equity Shares: Assuming full subscription, the total outstanding equity shares of the company after the rights issue will increase to 88,696,448 from 71,305,144 equity shares.
ISIN for Rights Entitlement: The International Securities Identification Number (ISIN) for the rights entitlement is INE572J20011.
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