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Satin Creditcare Network shines on planning to raise funds
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Satin Creditcare Network is currently trading at Rs. 278.35, up by 6.75 points or 2.49% from its previous closing of Rs. 271.60 on the BSE.
The scrip opened at Rs. 272.20 and has touched a high and low of Rs. 283.65 and Rs. 272.20 respectively. So far 110060 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. 116.25 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 283.65 and Rs. 255.70 respectively. The current market cap of the company is Rs. 3109.21 crore.
The promoters holding in the company stood at 36.06%, while Institutions and Non-Institutions held 17.85% and 46.09% respectively.
Satin Creditcare Network is planning to raise funds by way of issuance of non-convertible debentures (NCDs) within the borrowing limits as approved by the shareholders of the Company under section 180(1)(c) of the Companies Act, 2013, in one or more series/ tranches. The meeting of the Board of Directors of the Company is scheduled on January 15, 2024, inter alia, to consider and approve 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.
