Spandana Sphoorty Approves Merger Of ₹151 Crore-Revenue CFL Subsidiary

Board approved a scheme to amalgamate wholly owned Criss Financial with Spandana, subject to NCLT, shareholder and regulatory approvals. CFL contributed FY26 revenue of Rs. 150.86 crore and net worth of Rs. 233.11 crore; the merger targets secured/unsecured diversification, cost synergies and lower borrowing costs. Context: advances planned non-MFI diversification.