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Spandana Sphoorty raises $270mn in fresh funding

Spandana Sphoorty raises $270mn in fresh funding

Monday, April 3, 2017, 8:44 PM

Andhra Pradesh based micro finance institution Spandana Sphoorty has raised over $100mn in equity capital from a Kedaara Capital led consortium including Ontario Teachers' Pension Plan, and almost $170 million of debt capital from IndusInd Bank, Yes Bank and ICICI Bank on March 31 in order to clear its existing debts with 37 financial institutions which had previously gone bad.
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