Announced Fri, 14 Aug · 16:49 IST
Board approves merger of wholly owned Criss Financial with Spandana Sphoorty
SPANDANA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.4%1-day move
₹246.30
prior close
₹243.35
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.5+0.6+0.3+0.6-2.4-3.0-0.8-2.1-2.7+0.5-3.0-7.5——
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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.