News Digest

28 November 2017
Satin Creditcare to raise Rs 205 cr via securities

Non-banking finance company Satin Creditcare Network (SCNL) will raise up to Rs 205 crore through a mix of equity and debt. "Approved by the board, this preferential allotment is a combination of equity and debt instruments to augment the capital base and support business growth," SCNL said in a statement. It will get Rs 160 crore from investors and promoters while Rs 45 crore will come through issuance of debt securities to IndusInd Bank. Of the equity investment, Rs 80 crore will come from Kora Investments and Rs 20 crore from Nordik Microfinance Initiative, an existing investor in the company.

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