IndusInd Bank now owns 2.58% in Satin Creditcare

Kolkata: Private sector IndusInd Bank has now become 2.58 per cent owner of micro-finance firm Satin Creditcare following allotment of 13.43 lakh equities against preference shares.

Satin had allotted optionally convertible cumulative redeemable preference shares to IndusInd on Dec 28, 2017 at Rs 335 each for which full amount was paid at the time of allotment, the company said Friday.

Satin has also converted 17.9 lakh preference shares into equities.


Shareholding of Trishashna Holdings & Investments Private Ltd, which is the promoter group company for Satin, has also gone up to 27.04 per cent from 25.11 per cent earlier following conversion of preference shares into equities.

Consequently, Satin's paid-up share capital rose to Rs 52 crore, the company said.