Board of Satin Creditcare Network approves fund raising via preferential issue of equity securities

At meeting held on 06 December 2021

The Board of Satin Creditcare Network at its meeting held on 06 December 2021 has approved increase in authorised share capital of the company to Rs 180 crore comprising of 10.50 crore equity shares of Rs 10 each and 7.50 crore preference shares of Rs 10 each by creation of additional 1 crore equity shares.

The Board also approved preferential issue of up to 30,76,290 equity shares ,for cash, at an issue price of Rs 81.25 per share (including premium of Rs 71.25) for an amount not exceeding Rs 25 crore to persons belonging to non-promoter group.

The Board also approved preferential issue of up to 2,46,15,384 fully convertible warrants, at an issue price of Rs 81.25 per warrant, convertible into equivalent fully paid up equity shares of the company, for an amount not exceeding Rs 200 crore to persons belonging to promoter and promoter group and non-promoter group.

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