Satin Creditcare Network to raise Rs 250 crore through QIB

Satin Creditcare Network (SCNL) has received an approval for allotment of 4,529,970 equity shares of face value of Rs 10 each to Qualified Institutional Buyers (QIB) at the issue price of Rs 551.88 per equity share, aggregating to Rs 250 crore. The working committee of the board of directors of the company at its meeting held on October 03, 2016, has approved for the same.

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