Satin Creditcare Network informed that a meeting of its board is scheduled to be held on Friday, 20 September 2024 to consider the fund raising proposal by way of issuance of non-convertible bonds (NCDs).
The company will issue listed, secured NCDs on private placement basis.Satin Creditcare Network is a leading microfinance institution (MFI) in the country with presence in 26 states & union territories and 95,000 villages. The company also offers a bouquet of financial products in the Non-MF segment, comprising of loans to MSMEs, affordable housing loans to MSMEs, affordable housing loans, and business correspondent services.
The company's consolidated net profit increased 19.8% to Rs 105.28 crore on 36.8% rise in total income to Rs 634.35 crore in Q1 FY25 over Q1 FY24.
The scrip declined 0.43% to end at Rs 209.10 on Tuesday, 17 September 2024.
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