Spandana Sphoorty Finance Ltd.’s stocks went up by 3 per cent after businesslinereported that YES Bank had been actively considering acquiring a stake in the company. Talks are reportedly ongoing between YES Bank and private equity firm Kedaara Capital.
Senior officials from YES Bank are said to be in communication with the management and operational teams at Spandana Sphoorty to gain a comprehensive understanding of the company’s business and overall performance. However, official clarification from YES Bank and Kedaara Capital is still awaited, as they have not responded to emails seeking clarification regarding the matter until the time of press.
The shares went up by 3 per cent to ₹844 at 9:25 a.m. on BSE.