Spandana Sphoorty Financial Limited at its board meeting held on September 26, 2020 approved the issuance of up to 250 Rated, Listed, Secured, Senior, Redeemable, Transferable, Non-Convertible Debentures ("NCDs") having a face value of INR 1,000,000 each, aggregating up to an amount of INR 250 million on a Private Placement basis, in accordance with the provisions of Sections 42 and 71 of the Companies Act, 2013.