Satin Creditcare's board gives nod to raising up to Rs5,000 crore

12 Jul 2022 , 09:27 AM

In its regulatory filing, Satin Creditcare Limited informed that the Board of Directors of the company has considered and approved the proposal for raising of funds by way of issuance of Non-Convertible Debentures (NCDs).

The board is considering a fund-raise up to worth Rs5,000 crore on a private placement basis, in one or more tranches, within a period of 1 year from the date of shareholders’ approval, to eligible shareholders.

The fund raise is subject to the approval of shareholders in the ensuing Annual General Meeting (AGM) to be held on Wednesday, August 10, 2022, through Video Conferencing (VC)/Other Audio-Visual Means.

Satin Creditcare is currently trading at Rs98.50 up by Rs0.3 or 0.31% from its previous closing of Rs98.20 on the BSE. The scrip opened at Rs98.50 and has touched intraday high and low of Rs98.50 and Rs98.50 respectively.