The promoters of Satin Creditcare Network (SCNL) have reduced the pledge percentage of company from 8.9 per cent on July 16 last year to 3.09 per cent now. The promoters hold 2.75 crore equity shares on a fully diluted basis of which 8.5 lakh equity shares are pledged. This amounts to 3.09 per cent of the company's holding and 1.18 per cent of total equity paid-up capital.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.