Board approves merger of wholly owned Criss Financial with Spandana Sphoorty

Scheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

SPANDANA · price

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Price reactionminutes from the announcement price · days from the prior close

+1.1%Reaction day

₹246.30

prior close

₹243.35

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.1%+1.0% vs market

Finance peers, median of 411sector · industry level-0.1%+1.2% vs sector

On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 1.2 pts more than its Finance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.5

10m

+0.6

15m

+0.3

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.1+0.1+1.0-0.1+1.2

Next day

-2.4+0.5-2.9-0.5-1.8

-3.0-0.1-2.9-1.0-2.0

-0.8+0.4-1.2-0.6-0.1

-2.1+0.7-2.8-0.2-1.8

-2.7+0.9-3.6-0.9-1.8

+0.5+1.1-0.6-0.3+0.9

15d

-3.0+1.6-4.6-1.3-1.7

-7.5-0.7-6.8-2.9-4.6

-17.2-3.2-13.9-6.0-11.2

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UpDownMarket · Nifty Microcap 250Sector · Finance peers, median of 411Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Spandana Sphoorty board approved merging its wholly owned subsidiary Criss Financial Limited (CFL) into itself via a scheme of arrangement. CFL had FY26 revenue of Rs 150.86 crore and net worth of Rs 233.11 crore. No share swap since CFL is wholly owned, so shareholding pattern stays unchanged. Scheme needs NCLT, shareholder, and RBI approvals. Separately, Neeraj Swaroop resigned as Kedaara nominee director and was reappointed as Independent Director for 3 years.

Likely market impact

Group simplification with no shareholder dilution. Effective only after NCLT and RBI approvals.