An eigenvalue problem relevant for non-linear sigma model with singular metric is considered. We prove the existence of a non-degenerate pure point spectrum for all finite values of the size R of the system. In the infrared (IR) regime (large R) the eigenvalues admit a power series expansion around IR critical point Rtoinfty. We compute high order coefficients and prove that the series converges for all finite values of R. In the ultraviolet (UV) limit the spectrum condenses into a continuum spectrum with a set of residual bound states. The spectrum agrees nicely with the central charge computed by the Thermodynamic Bethe Ansatz method