Spandana Sphoorty Financial Approves CFL Amalgamation Into Parent

The Board approved amalgamation of wholly owned Criss Financial (CFL), combining secured lending with Spandana’s unsecured microfinance business. CFL reported FY26 revenue of Rs. 150.86 crore and net worth of Rs. 233.11 crore. The scheme requires NCLT, shareholder/creditor if directed, RBI and other approvals. Context: it advances non-MFI diversification.