In a regulatory filing, the microfinance lender said, “A meeting of working committee of board of directors of Satin Creditcare Network is scheduled to be held on Thursday, 30 November 2023 to consider the fund raising proposal by way of issuance of listed/unlisted, secured/unsecured, non-convertible debentures on private placement basis.”

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 consolidated net profit jumped 86.7% to Rs 106.78 crore on 49.3% rise in total income to Rs 538.48 crore in Q2 FY24 over Q2 FY23.