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Article: India: Spandana Spoorthy to close $60 mn Private Equity deal next week.
- Article from:
- TendersInfo
- Article date:
- August 29, 2009
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Byline: Mamta03
Lok Capital, which holds 5% stake in Spandana, is looking to sell half of its holding. Hyderabad-based microfinance institution Spandana Spoorthy Financial Ltd is close to raising $50-60 million through the private equity route.
We will be announcing this in a week s time when our board meeting is due. We have short listed three investors, of which one will be finalised. We have seen an enormous interest from high-quality investors, said Padmaja Reddy, CEO, Spandana Spoorthy Financial Ltd. The MFI hopes to raise the funds in two weeks time. Nearly 23 investors are keen to invest in Spandana, Reddy told VCCirlce.
While declining ...