Satin Creditcare Network has raised Rs 25 crore through allotment of 250 Listed, Senior and Secured Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each for cash on private placement basis to Indian Overseas Bank. Date of maturity of the said NCDs will be April 13, 2022. The Working Committee of the company vide their resolution dated October 13, 2020 has allotted 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.