Satin Creditcare board to consider fundraising via NCDs

Satin Creditcare Network Limited is committed to helping women in rural and semi-urban areas achieve financial independence by offering them microfinance services. The organization’s goal is to reduce poverty and advance financial inclusion by giving people who have historically been underserved by the formal banking industry access to credit. Satin Creditcare has established itself as a reliable partner for thousands of borrowers looking to better their lives by gaining access to credit at a reasonable cost thanks to its dedication to ethical lending practices and sustainable growth.

Satin Creditcare Network Ltd. is raising funds via NCDs:

Satin Creditcare Network Ltd.’s decision to raise capital via non-convertible bonds is a strategic move that will help it diversify its sources of funding and improve its financial standing. Companies that want to raise debt capital without reducing their current equity ownership frequently opt for non-convertible bonds. Satin Creditcare Network Ltd. can raise more money and keep control of its ownership structure by choosing this kind of fundraising. At its meeting on September 20, the company’s board of directors will discuss the plan to issue listed, secured, non-convertible bonds through private placement, as the company disclosed in its exchange filing.

The company had previously committed to raising up to Rs 5,000 crore through nonconvertible debentures on June 24. The board had also approved the appointment of Manoj Agarwal as chief financial officer and Joydeep Datta Gupta as an additional director for a term of three years.

The stock of Satin Creditcare Network Ltd. is trending upward:

Satin Creditcare Network Ltd.’s stock is now up almost 1% on an intraday basis, trading at Rs. 210.50 per share. The 52-week high traded price of Rs. 283.55 per share.

Conclusion: Satin Creditcare Network Limited’s decision to raise the money through NCDs is a testament to its confidence in both its ability to grow and to generate profits for investors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.