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Satin Creditcare Network raises Rs 25 crore by issuing preference shares

14 Jun 2016 Evaluate

Satin Creditcare Network (SCNL) has raised Rs 25 crore by issuing Non-Convertible, Redeemable, Cumulative, preference Shares (NCRCPS) to Karvy Capital. IFMR Capital executed the private placement of the CARE BBB rated Preference shares at coupon of 12.10% p.a and redeemable after approximately 5 years. The proceeds from the issuance will be used for company's growth and working capital requirement.

The company has been raising funds through various instruments, such as Term Loans, Sub-debt (Tier 2 Capital), NCD, Preference shares, ECB, Commercial Paper, and Securitization/assignment, etc, in keeping with its strategy to diversify its resource profile. During FY17, the company plans to raise a total of Rs 5,000 crore, including both debt and equity.

Satin Creditcare Network was formed as a Non-Banking Finance Company (NBFC) has expanded and evolved into one of the leading microfinance institutions in India with its current geography in North as well as Central India.

Satin Creditcare Net Share Price

256.75 1.80 (0.71%)
10-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corpn. 406.50
REC 351.90
Indian Railway Fin. 89.88
NHIT 160.00
Satin Creditcare Net 256.75
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