Spandana Sphoorty (SSFL) has approved the merger of its wholly-owned subsidiary, Criss Financial Limited (CFL), into itself.

This strategic move aims to simplify the group structure, reduce operational and compliance costs, and unlock revenue synergies.

The combined entity will benefit from a diversified product mix of secured and unsecured loans, enhancing risk-adjusted yields and capital deployment.

For existing SSFL shareholders, there will be no dilution as no new shares are issued.

The merger is subject to NCLT and other necessary regulatory approvals.