Satin Creditcare

Disbursement figures rising, pain of pandemic over for microfinance sector: H P Singh

A total of 19,250 secured, rated and redeemable non-convertible debentures (NCDs) of Rs 50,000 each have been issued to AAV Sarl and Masala Investments Sarl

Microfinance institution Satin Creditcare Network Ltd (SCNL) on Monday reported a profit after tax of Rs 34 crore in the quarter ended December. The company had reported a loss of Rs 80 crore in the year-ago period. Its net interest income grew Rs 194 crore in the December quarter as against Rs 164 crore in the same period of the previous fiscal. Disbursements for the quarter declined to Rs 1,348 crore as compared to Rs 1,822 crore in Q3FY21. Microfinance disbursements dipped to Rs 1,224 crore as compared to Rs 1,742 crores in the same quarter of the previous fiscal. Asset under management (AUM) dropped to Rs 7,218 crore as against Rs 7,880 crore. The microlender's Chairman and Managing Director H P Singh said, Considering the current pandemic scare and detection of new Omicron variant, the company has adopted a well-calibrated and cautious approach in disbursing new loans due to which AUM de-grew by 8.4 per cent year-on-year. Its gross non-performing assets (NPAs) stood at 8.61

Microfinance institution Satin Creditcare Network Ltd (SCNL) on Friday said it has raised Rs 225 crore through preferential allotment of shares. The micro lender has allotted a total of 30,76,916 shares (i.e. 7,69,229 shares each) to a group of investors namely Aarti Agrifeeds LLP, Adesh Agricare LLP, Adesh Agrifarm LLP and Trimudra Trade & Holdings Private Ltd, a release said. It has also allotted a total of 2,46,15,384 warrants (i.e. 1,23,07,692 warrants each) to Trishashna Holdings & Investments Pvt Ltd (promoter & promoter group) and Florintree Ventures LLP (non-promoter). The warrants have a convertible option in one or more tranches, within 18 months from the date of allotment into equivalent number of fully paid-up equity shares, the release said. The funds will be used as growth capital to boost the company's position in the lending ecosystem and to accelerate its strategic priorities. SCNL's Chairman and Managing Director H P Singh said the investment will not ...

India Ratings and Research (Ind-Ra) has upgraded Mindtree's long-term issuer rating to 'IND AAA' from 'IND AA+'

We are still doing our business and will be ready with whatever we need to do, says Singh

This investment would help Satin Creditcare in its planned expansion, portfolio growth, and its efforts in increasing financial inclusion