Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial Limited, according to its credit rating report, is a non-banking financial company (NBFC) that acquired the microfinance operations of Spandana, a non-governmental organization founded by Ms. Padmaja Reddy in 1998. In 2015, the company was designated as a non-banking financial company – microfinance institution (NBFC-MFI). In response to the microfinance crisis in Andhra Pradesh (AP), Spandana entered into a Master Restructuring Agreement (MRA) with its lenders in September 2011 as part of the corporate debt restructuring (CDR) process. In April 2017, after receiving a fresh equity investment from Kedaara Capital Investment Managers Limited (Kedaara Capital) and additional funding from three banks, the company successfully exited the CDR. In August 2019, the co... Read More

Spandana Sphoorty Financial Limited, according to its credit rating report, is a non-banking financial company (NBFC) that acquired the microfinance operations of Spandana, a non-governmental organization founded by Ms. Padmaja Reddy in 1998. In 2015, the company was designated as a non-banking financial company – microfinance institution (NBFC-MFI). In response to the microfinance crisis in Andhra Pradesh (AP), Spandana entered into a Master Restructuring Agreement (MRA) with its lenders in September 2011 as part of the corporate debt restructuring (CDR) process. In April 2017, after receiving a fresh equity investment from Kedaara Capital Investment Managers Limited (Kedaara Capital) and additional funding from three banks, the company successfully exited the CDR. In August 2019, the company completed its initial public offering (IPO).Read Less

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