Satin Creditcare Network (SCNL) has successfully raised Rs 64.3 crore from the Asian Development Bank (ADB) and Rs 7.5 crore from Trishashna Holdings & Investments (THIPL), a Promoter group company. With this, the shareholding of ADB stands at 3.95%, while the Promoter and Promoter group shareholding stands at 31.74%.
The proceeds of Rs 71.8 crore from this transaction will strengthen the company’s equity capital. SCNL now has additional financial resources that will allow it to pursue its development objectives while maintaining a solid financial structure.
SCNL is a leading microfinance company in India, with key markets in north and central part of the country. It provides doorstep financial services to India’s urban and rural poor, specifically those who lack access to funds from any other financial institution at affordable rates to support productive activities.