Satin Creditcare Network Unveils ₹50 Billion NCD Issuance Plan 2 days ago
Satin Creditcare Network has announced plans to raise up to ₹50 billion through the issuance of non-convertible debentures (NCDs). This strategic move aims to strengthen the company's capital base and support growth initiatives. The fundraising effort is expected to enhance lending capacity, improve liquidity, and strengthen the overall balance sheet. The NCD issuance is likely to attract attention from both institutional and retail investors, reflecting the company's confidence in its growth prospects.
Satin Creditcare Network Limited (SCNL) has approved the sale of a stressed loan portfolio worth ₹212.98 crore to an Asset Reconstruction Company for ₹42.60 crore. The transaction will be conducted through an open bid method. Additionally, SCNL announced the closure of its trading window from April 1, 2025, until 48 hours after the announcement of its audited financial results for Q4 and FY 2024-25.
13Mar 25
Satin Creditcare Network Secures $100 Million Social Loan, Boosting Financial Inclusion Efforts
Satin Creditcare Network Limited (SCNL) has successfully raised $100 million through a syndicated social loan via External Commercial Borrowing (ECB). The loan, arranged by Standard Chartered Bank, involves participation from six Sri Lankan banks and has a tenor of 3 years and 3 months. This marks SCNL's first syndicated social loan, demonstrating its growing influence in international financial markets. The funding aims to expand financial services access in underbanked regions of India. Additionally, SCNL's Board has approved an increase in the limit for issuing Letters of Comfort to its subsidiary, Satin Housing Finance Limited, from INR 200 crore to INR 300 crore.
12Mar 25
Satin Creditcare Boosts Support for Housing Finance Arm, Raises Letter of Comfort Limit to ₹300 Crore
Satin Creditcare Network Ltd (SCNL) has approved an increase in the limit for issuing Letters of Comfort for its wholly-owned subsidiary, Satin Housing Finance Limited (SHFL), from ₹200 crore to ₹300 crore. The decision, made in a board meeting on March 12, 2025, aims to support SHFL's credit arrangements with various lenders. While this move is expected to facilitate SHFL's funding and expansion in the housing finance sector, it does not constitute a guarantee or obligation for SCNL to pay on behalf of SHFL in case of default. The transaction will be conducted on an arm's length basis, with no direct financial impact on SCNL.