Shares of Spandana Sphoorty Financial slipped over 2% intraday on Monday, November 2, before recovering some losses after the microfinance lender disclosed a cyber fraud incident involving unauthorised transactions of approximately ₹7.80 crore from one of its bank accounts.
Spandana Sphoorty Cyber Attack
In an exchange filing issued on November 2, the company said it has discovered a cyber fraud incident involving unauthorised transactions debited from one of its bank accounts on November 1, 2026.
As per the Hyderabad-based company, the transactions, totalling approximately ₹7.80 crore, were transferred to multiple beneficiary accounts.
The company added that upon identifying the error, it immediately stopped the affected services.
On its part, the company has communicated the issue to the bank, requesting the reversal of the transactions and the freezing of the beneficiary accounts.
Additionally, a cyber fraud complaint has been lodged with the National Cyber Crime Reporting Portal (helpline 1930). The incident is also being reported to other relevant authorities.
Spandana Sphoorty added that it holds insurance for cyber fraud, and a claim is currently being submitted to the insurance provider.
Furthermore, the company said that it is investigating the matter; any developments, including recoveries and the outcome of the investigation.
Stock Performance
The shares are down over 1% and have recovered from the lows of the day. The stock opened at ₹184.49 and slipped to an intraday low of ₹180.71. The shares have fallen over 12% in the past month of trading.
The shares are 41.47% below the 52-week high of ₹319.40. The stock is above its 52-week low of ₹174.65. The stock has closed in the green in 5 out of the last 10 trading sessions.