The fund was picked up in two different tranches. The first tranche of RS 40 Crore was raised on July 24, while the last RS 60 Crore was completed on August 21.
The funds, structured with repayments from Bullet at the end of 5.5 years and 7 years, are aimed at improving the position of the company liable.
Satin CreditCare Network increased RS 100 Crore by reinforcing non-convertible bonds in two tranches to strengthen its position of asset liability, to strengthen crar and to expand lending in income-generating and wax-oriented loans for customers.
“Increasing RS 100 Crore At the moment, trust investors in our model and vision reinforces. It validates our financial strength and the confidence that we have built up over the years,” said Satin chairman HP Singh in a statement issued by the company.
The funds were collected by assessed, uncovered, non-convertible bonds (NCDs), which are eligible as Tier II capital.
“This infusion also offers a stronger capital cushion for our circle of approximately 26% on June 30, 2025,” said Singh.
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