SSSpandana Sphoorty Financial542759Routine SEBI update

Monitoring agency report: no deviation in rights issue use; ₹194.41 crore held in escrow

CARE Ratings' monitoring agency report on the rights issue for the quarter ended September 30, 2026 is out.

By ScoutQuest · Fri 30 Oct 2026, 5:20 PM IST · 2 min read

Rights issue size

₹400.00 crore

Final call received in Q2FY27, held unutilised in escrow

₹194.41 crore

Total received up to Q2FY27

₹393.76 crore against the ₹400 crore issue size

What the update says

Spandana Sphoorty has submitted the monitoring agency report from CARE Ratings for the quarter ended September 30, 2026, covering the use of money raised through its rights issue of equity shares.

• The issue size was ₹400.00 crore, with an issue period running from August 01, 2025 to March 31, 2027.
• The monitoring agency reported no deviation from the objects of the issue, and no range of deviation applied.
• No shareholder approval was sought for material deviations, because the agency found no deviation in expenditure from what the Offer Document disclosed.
• The means of finance for the disclosed objects are unchanged.

Where the money stands

• During Q2FY27 the company received ₹194.41 crore from the final call.
• No part of that money was used during the quarter; the entire amount remained unutilised in an escrow account as on September 30, 2026.
• Against the issue size of ₹400 crore, the company had received ₹393.76 crore up to Q2FY27. The balance may be received later against the outstanding call money.
• The agency notes that any shortfall in the final proceeds will lead to a corresponding reduction in the amount available for Object 2, as set out in the Offer Document.

Business context flagged in the report

The monitoring agency also recorded information it considers material for investors' decisions.

• Assets under management declined from March 2024 levels through December 2025 and then recovered to ₹4,887 crore as on June 30, 2026. Operating performance has shown improvement starting Q3FY26.
• Consolidated profit after tax was ₹11.88 crore in Q1FY27.
• Marginal borrowing cost softened to 11.3% in Q1FY27, an improvement in the funding profile.
• The market price of ₹189 (closing price as on October 22, 2026) is lower than the overall issue price of ₹230 per share.
• Profitability is expected to remain moderate in the near term because of residual portfolio stress, and sustained improvement in asset quality and profitability remains a key thing to monitor.

How to read this

This is a routine quarterly check by an outside agency on whether money raised from shareholders is being used for the purposes it was collected for. On that test, the report shows a clean sheet, and the funds received in the quarter are sitting unused in an escrow account rather than being spent. The same report also carries the agency's observations on the company's portfolio size, profit, borrowing cost and the gap between the market price and the price at which the shares were issued.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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