Satin Creditcare Network surges on getting nod to raise Rs 5000 crore through NCDs
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Satin Creditcare Network is currently trading at Rs. 176.25, up by 6.50 points or 3.83% from its previous closing of Rs. 169.75 on the BSE.
The scrip opened at Rs. 172.70 and has touched a high and low of Rs. 179.00 and Rs. 172.35 respectively. So far 20811 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 193.55 on 21-Jun-2023 and a 52 week low of Rs. 96.95 on 13-Jul-2022.
Last one week high and low of the scrip stood at Rs. 179.00 and Rs. 168.30 respectively. The current market cap of the company is Rs. 1614.64 crore.
The promoters holding in the company stood at 39.45%, while Institutions and Non-Institutions held 13.85% and 46.70% respectively.
Satin Creditcare Network has received approval to raise Rs 5000 crore by way of issuance of Non-Convertible Debentures (NCDs) on private placement basis, in one or more tranches, within a period of 1 year from the date of shareholders’ approval, to any category of investors eligible to invest in the NCDs, subject to approval of Shareholders in the ensuing Annual General Meeting (AGM). The Board of Directors of the Company in their meeting held on July 10, 2023 have, inter-alia, considered and approved 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.
