Satin CreditCare to raise Rs 100 crore via bonds

NEW dELHI: Satin Creditcare Network, the microfinance lender today said it plans to raise Rs 100 crore by issuing bonds on a private placement basis.

The Board of Directors will meet on June 29 to decide on the capital raising plan.

"Satin Creditcare Network has informed BSE that the meeting of Working Committee of the Board of Director of the Company is scheduled to be held on June 29, for issuance of non-convertible debentures up to the amount of Rs 100 crore," it said in a BSE filing.

The company said the bonds will be issued on a private placement basis.

Shares of the company closed 13.08 per cent up at Rs 492.70 on BSE.