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The lender s asset quality improved year-on-year but slipped a bit sequentially. Saxena attributed this to the transition from monthly repayment to weekly repayment, which also led to a muted loan disbursement in October. Spandana s gross non-performing assets ratio stood at 1.6% at the end of December 2023 as compared with 5.3% a year ago. Gross NPA was 1.8% at the end of September 2023. Net NPA was 0.5% against 2.5% a year back. ....
IIFL Finance, which holds 99% in the microfinance lender, has decided to infuse Rs 200 crore by way of rights issue of 7.5 crore fully paid up equity shares of face value of Rs 10 each at a premium of Rs 16.74 per share. It acquired Samasta in 2017. In the first half of FY24, the NBFC-MFI raised Rs 5,239 crore of debt with about 60% as term loans and another 20% from privately placed bonds. ....