Satin Creditcare approves allotment of ~30.77 lakh shares and over 2.46cr warrants

27 Jan 2022 , 03:10 PM

Satin Creditcare Network Limited Working Committee on January 25,2022 approved the allotment of 30,76,916 equity shares of the face value of Rs10/- each (Equity Shares) fully paid-up, for cash at an issue price of Rs81.25 per equity share (including premium of Rs71.25 per equity share), on a preferential basis.

The company also approved allotment of 2,46,15,384 fully convertible warrants at an issue price of Rs81.251per Warrant, convertible at the option of the Warrant holder, in one or more tranches, within eighteen (18) months from the date of allotment into an equivalent number of fully paid-up equity shares of face value of Rsl0/ only) each of the Company, on a preferential basis.

Consequent to the allotment of Equity Shares, the paid-up equity share capital of the company stands increased from Rs7l ,94,20,810/- divided into 7,19,42,081 equity shares to Rs75,01,89,970/- divided into 7,50,18,997 equity shares of face value of Rs10 each.

Towards close of trade on Thursday, Satin Creditcare Network Ltd was trading at Rs80 per piece down by Rs0.8 or 0.99% from its previous closing of Rs80.80 per piece on the BSE.