Satin Creditcare spurts ~3% ahead of Board Meeting to consider fund raising of up to Rs5,000 crore

5 Jul 2022 , 09:40 AM

Satin Creditcare Network informed that the meeting of the Board of Directors will be held on Monday, July 11, 2022, to discuss and consider the proposal for raising of funds by way of issuance of Non-Convertible Debentures up to Rs5,000 crore.

The NCDs will be issued on a private placement basis, in one or more tranches, subject to applicable laws and necessary approvals from shareholders, and any statutory authorities as may be required/applicable.

Following this development, Satin Creditcare’s counter was trading 3.05% higher at Rs101.45 against its previous close of Rs98.45 on NSE. It hit intraday high and low of Rs102.10 and Rs98.30 respectively.