12-Jun-2026 19:06:12
SPANDANA SPHOORTY : APPROVES MERGER OF CRISS FINANCIAL WITH COMPANY 🏦🔄
• ✅ Board approved amalgamation of Criss Financial Ltd (CFL) with Spandana Sphoorty Financial Ltd • 📊 CFL is a subsidiary in which Spandana holds 99.92% equity stake • 💰 FY26 Revenue: Spandana ₹906.59 Cr | CFL ₹150.86 Cr • 🏦 FY26 Net Worth: Spandana ₹2,193.75 Cr | CFL ₹233.11 Cr • 🤝 Merger aims to combine secured and unsecured lending businesses under one entity • ⚙️ Expected benefits include cost synergies, simplified group structure, shared technology platform and streamlined compliance framework • 📈 Enhances cross-selling opportunities, customer reach and branch-level profitability • 💵 Expected to lower overall borrowing costs and improve capital allocation efficiency • 🔄 Share Exchange Ratio: 73 Spandana shares for every 100 CFL shares • ⏳ Subject to approvals from shareholders, creditors, NCLT, RBI, stock exchanges and other regulatory authorities 🟢 Impact: Positive (Merger simplifies corporate structure, creates operational synergies, strengthens lending franchise and supports long-term value creation.)
SPANDANA SPHOORTY FIN LTD