In a regulatory filing, the microfinance lender said that the working committee of the board of directors of the company has considered and approved the terms and conditions for issuance of secured, rated, unlisted, redeemable, transferable, non-convertible debentures denominated in Indian rupees (INR), for an aggregate amount upto Rs 54 crore on a private placement basis.

The coupon rate on the NCD is fixed at 10.90% per annum payable semi-annually. The debentures are proposed to be allotted on 29 June 2023 and the date of maturity will be 8 May 2027.

Satin Creditcare Network is engaged primarily in providing micro finance services to women in the rural areas of India who are enrolled as members and organized as joint liability groups.

The company's net profit rose 59% to Rs 94 crore on 20.12% increase in total income to Rs 397.12 crore in Q4 March 2023 over Q4 March 2022.