Satin Creditcare Network has raised Rs 96.25 crore by issuing bonds on a private placement basis to two investors. A total of 19,250 secured, rated and redeemable non-convertible debentures (NCDs) of Rs 50,000 each have been issued to AAV Sarl and Masala Investments Sarl. The date of allotment is June 24, 2022. The NCDs, which will mature on June 24, 2027, bear an interest rate of 11.15 per cent per annum.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
