Announced Wed, 15 Jul · 18:02 IST
SSFL updates on Criss Financial merger; terms under re-evaluation
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
₹304.00
prior close
₹305.90
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.4-1.1-0.9-1.4-2.4-6.0+0.0-6.0-2.3-12.6————
Up moveDown movePending
AI summary
Spandana Sphoorty Financial (SSFL) has updated exchanges on its proposed merger with Criss Financial Limited (CFL). SSFL already held 99.92 percent of CFL and has now acquired the remaining equity from non-promoter shareholders, making CFL a wholly owned subsidiary. Given this change, the Board will re-evaluate the existing scheme of arrangement under Section 233 of the Companies Act, 2013 and consider modifications before a fresh proposal is placed for approval.
Likely market impact
Existing merger terms may change now that CFL is fully owned. No immediate impact on shareholders; final scheme awaits Board approval.