Spandana Sphoorty Financial Ltd updates on settlement with Ms. Padmaja Reddy

There has been some speculation about the state of affairs at Spandana Sphoorty Financial Limited ("Spandana" or "the Company") in the recent past.

Ms. Padmaja Reddy resigned from her position as the Managing Director of the Company on November 2, 2021. Subsequently, certain disputes arose between Ms. Padmaja Reddy and the Board of Directors of the Company (Board). We are now pleased to inform you that the Company and Ms. Reddy have resolved their differences and agreed to part ways on amicable terms.

While Ms. Reddy is no longer serving as the Managing Director of the Company, she continues to be a substantial shareholder and member of the Company's Board.

Needless to state, that the Company and its Board reiterate that they are committed to growing the Company's business with a view to take it to greater heights.

Ms. Reddy continues to remain a well-wisher of Spandana and will extend all the required guidance and support.

Shares of Spandana Sphoorty Financial Limited was last trading in BSE at Rs. 333.15 as compared to the previous close of Rs. 304.10. The total number of shares traded during the day was 27009 in over 1681 trades.

The stock hit an intraday high of Rs. 339.30 and intraday low of 306.65. The net turnover during the day was Rs. 8706866.00.

Source : Equity Bulls

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SpandanaSphoortyFinancial INE572J01011 Resolution