Kedaara Capital eyeing stake in microfinance firm Spandana Sphoorty
Friday, March 17, 2017, 12:56 PM
Spandana Sphoorty is in talks with Kedaara Capital to sell over 26% stake in the firm, seven years after being hit by the microfinance crisis in Andhra Pradesh. Company also said it has received in-principle approval from RBI for the proposed deal. After the stake transfer, company will have net owned funds worth Rs700 crore and debt of Rs1,000 crore as of 31 March.