In continuation to our prior intimation dated July 10, 2025, we wish to inform you that, the Board of Directors of the Company ( Board ), at its meeting held today, July 15, 2025, has inter alia considered and approved: I. The issuance of partly paid-up equity shares of the Company of face value of Rs. 10/- each (the Equity Shares ) for an amount not exceeding Rs. 400 crore (Rupees four hundred crore) by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such regulatory and statutory approvals, as may be required under the applicable laws. II. Appointment of M/s. Alwyn Jay & Co., as Secretarial Auditors of the Company for a term of 2 (two) consecutive year i.e. FY 2025-26 and FY 2026-27, subject to Shareholders approval.
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Spandana Sphoorty Financial's board, at its meeting on July 15, 2025, approved a rights issue of partly paid-up equity shares of face value Rs. 10 each, for an amount not exceeding Rs. 400 crore. The issue will be offered to eligible equity shareholders as on a record date that is yet to be notified, and will follow SEBI's ICDR Regulations. The issue price, entitlement ratio, and payment terms will be decided later by the Board or its Capital Raising Committee. Separately, the board reappointed M/s. Alwyn Jay & Co., Company Secretaries, as Secretarial Auditor for two consecutive years (FY 2025-26 and FY 2026-27), subject to shareholder approval. This is a continuation of the same firm that audited FY 2024-25, and the reappointment is prompted by recent amendments to SEBI's LODR Regulation 24A.
The Rs. 400 crore rights issue will dilute existing shareholders proportionally, though partly paid-up shares ease the immediate cash burden. Shareholders should watch for the record date and entitlement ratio announcement to assess their investment commitment.