Satin Creditcare Network has received an approval for issue and allotment of equity shares of face value of Rs 10 each to qualified institutional buyers at the issue price of Rs 305.00 per equity share, aggregating around to Rs 150 crore.
Pursuant to the allotment of the 49,18,032 Equity Shares in the QIP, the paid-up equity share capital of the Company stands increased to Rs 44,68,86,960 comprising of 4,46,88,696 Equity Shares. The working committee of the board of directors of the company at its meeting held on October 11, 2017 has approved for the same.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
