Satin Creditcare rises on completing first PTC transaction with HSBC India
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Satin Creditcare Network is currently trading at Rs. 211.10, up by 0.45 points or 0.21% from its previous closing of Rs. 210.65 on the BSE.
The scrip opened at Rs. 214.00 and has touched a high and low of Rs. 214.00 and Rs. 210.30 respectively. So far 11694 shares were traded on the counter.
The BSE group 'A' 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. 182.95 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 216.30 and Rs. 209.25 respectively. The current market cap of the company is Rs. 2330.39 crore.
The promoters holding in the company stood at 36.17%, while Institutions and Non-Institutions held 14.17% and 49.65% respectively.
Satin Creditcare Network (SCNL) has closed its first Pass-Through Certificate (PTC) transaction with HSBC India. The transaction, valued at Rs 119.12 crore, was concluded with a coupon rate of 9.30%.
This PTC deal aligns with SCNL’s broader strategy to expand its funding base and optimize its capital structure while reinforcing its dedication to financial inclusion. By leveraging securitization, SCNL is not only accessing new sources of capital but also improving its liquidity position, which is crucial for scaling its outreach to micro-entrepreneurs across India.
The transaction has a par structure, where the loan pool is assigned to the trust for a purchase consideration equal to 87.5% of the pool principal. The trust will issue Series A1 PTCs for 87.5%, and 12.5% of the initial pool principal will act as overcollateralization. The deal is set to mature in August 2026, in accordance with the transaction documentation.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
