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The company will issue senior, secured, rated, listed, taxable, redeemable and transferable, NCDs having face value of Rs 1 lakh with an aggregate value of Rs 50 crore including a green shoe option of 2,500 senior, secured, rated, listed, taxable, redeemable, transferable, non-convertible debentures with aggregate value of Rs 25 crore on private placement basis.
Interest rate is 10.90% per annum payable annually and said NCDs will be mature on 23 May 2025.
The debentures are proposed to be listed on BSE.
Satin Creditcare Network (SCNL) was formed in 1990 as a non-banking finance company (NBFC) with the simple concept of providing individual loans to urban shopkeepers for tiny businesses. SCNL provides loans to both urban poor and rural poor to meet their productive requirements in starting new business or for growing an existing business.
On a consolidated basis, The NBFC’s net profit jumped 86.7% to Rs 106.78 crore on 49.3% increase in total income to Rs 538.48 crore in Q2 FY24 over Q2 FY23.
The scrip declined 1.77% to Rs 249.85 on the BSE.
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