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Corporate News 08-Jan-18

Satin gets equity influx of Rs 80 crore from Kora Management

To support company's growth and digital initiatives as a financial services provider to rural and semi-urban India

Kora Management LP (Kora) has made an equity investment of Rs 80 crore (USD 12.5 mn) in Satin Creditcare Network to support the company's growth and digital initiatives as a financial services provider to rural and semi-urban India. The investment by Kora is part of the recently concluded capital raise of Rs 205 crore (USD 31.5 mn) via a preferential allotment. With this transaction, Daniel Jacobs, co-founder and senior partner at Kora, will be joining SCNL's board of directors.

The preferential allotment, approved by the company's board on 24 November 2017 and by shareholders on 22 December 2017, also saw participation from the promoters, IndusInd Bank and NMI (existing investor).

Previous News

Satin Creditcare Network to convene board meeting
( Corporate News - 24-Apr-24 11:32 )

Board of Satin Creditcare Network approves Rs 200 cr public issue of NCDs
( Corporate News - 15-Jan-24 13:39 )

Satin Creditcare Network to conduct board meeting
( Corporate News - 15-Dec-23 10:22 )

Satin Creditcare Network consolidated net profit rises 422.37% in the September 2022 quarter
( Results - Announcements 28-Oct-22 16:19 )

Satin Creditcare Network to consider fund raising
( Corporate News - 12-Apr-24 09:24 )

Satin Creditcare spurts after Q4 PAT climbs 33% YoY
( Hot Pursuit - 29-Apr-24 17:30 )

Satin Creditcare board to mull fund raising on 6 Jan
( Hot Pursuit - 04-Jan-23 11:59 )

Satin Creditcare Network to hold AGM
( Corporate News - 11-Jul-23 12:45 )

Satin Creditcare Network consolidated net profit declines 68.77% in the June 2020 quarter
( Results - Announcements 02-Sep-20 17:28 )

Satin Creditcare Network to conduct AGM
( Corporate News - 16-Jun-20 16:44 )

Satin Creditcare Network standalone net profit rises 56.36% in the March 2016 quarter
( Results - Announcements 31-May-16 11:20 )