Spandana Sphoorty Financial has received a binding bid from an Asset Reconstruction Company (ARC), amounting to Rs 95 crore, on Security Receipt consideration basis, for the written-off portfolio with outstanding of Rs 323.08 crore as on September 30, 2022.
The company shall follow Swiss Challenge Method for bidding and decision of sale shall be taken as per extant guidelines governing Swiss Challenge Method and the relevant policy of the company.
Spandana Sphoorty Financial is a leading, rural focused NBFC-MFI with a geographically diversified presence in India.
