Satin Creditcare Network gains on securing 15 million Euros debt funding from OeEB
Satin Creditcare Network is currently trading at Rs. 212.45, up by 0.95 points or 0.45% from its previous closing of Rs. 211.50 on the BSE.
The scrip opened at Rs. 217.00 and has touched a high and low of Rs. 219.50 and Rs. 211.85 respectively. So far 9876 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 283.65 on 11-Jan-2024 and a 52 week low of Rs. 170.15 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 221.50 and Rs. 208.00 respectively. The current market cap of the company is Rs. 2348.61 crore.
The promoters holding in the company stood at 36.17%, while Institutions and Non-Institutions held 14.17% and 49.66% respectively.
Satin Creditcare Network (SCNL) has successfully raised 15 million Euros in External Commercial Borrowing (ECB). The funding was secured from OeEB - Oesterreichische Entwicklungsbank AG - the Development Bank of Austria.
The ECB has a tenure of five years, during which the funds raised will be strategically utilized to expand SCNL’s business operations and enhance micro-credit access for its customers. These efforts will be facilitated through the company's Income Generating Loan (IGL) and WASH Loan programs, both tailored to support and empower rural women entrepreneurs. Furthermore, this initiative aims to foster economic growth and elevate living standards in underserved communities. This marks the company's third transaction with OeEB, following the successful collaboration in 2019 and 2021, which raised a total of $20 million.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
