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Satin gets equity influx of Rs 80 crore from Kora Management

Capital Market 

To support company's growth and initiatives as a financial services provider to rural and semi-urban India

Kora Management LP (Kora) has made an equity investment of Rs 80 crore (USD 12.5 mn) in to support the company's growth and initiatives as a financial services provider to rural and semi-urban The investment by Kora is part of the recently concluded capital raise of Rs 205 crore (USD 31.5 mn) via a preferential allotment. With this transaction, Daniel Jacobs, at Kora, will be joining SCNL's board of directors.

The preferential allotment, approved by the company's board on 24 November 2017 and by shareholders on 22 December 2017, also saw participation from the promoters, and (existing investor).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 12:09 IST
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