Spandana Sphoorty Financial Limited has informed the Exchange regarding Notice of Postal Ballot
SPANDANA · price
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Spandana Sphoorty Financial Limited has issued a postal ballot notice seeking shareholder approval for related party transactions with its 99.92% subsidiary, Criss Financial Limited (an NBFC-ICC), for FY 2025-26. The total value of proposed transactions is Rs 1,050.59 crore, which includes inter-corporate advances of Rs 800 crore, interest of Rs 50 crore, equity infusion of Rs 100 crore, and corporate guarantees of Rs 100 crore. The transactions are triggered because the aggregate exceeds 10% of the company's annual consolidated turnover of Rs 2,424.09 crore for FY 2024-25, crossing the SEBI materiality threshold. The funding will come from the company's retained earnings with no new debt being raised. E-voting runs from June 9, 2025 to July 8, 2025, with results to be declared by July 10, 2025.
This is largely a procedural shareholder approval for routine intra-group financial support to the company's own subsidiary. Given Spandana's near-total ownership of Criss, approval is highly likely. The transactions signal continued capital support for the subsidiary's growth but should not materially affect the standalone stock price since it is essentially the parent funding its own arm.