Satin Creditcare Network said that its board approved to incorporate a wholly owned subsidiary, with proposed name of Satin Growth Alternatives, to participate in the alternative investment space.
The subsidiary will act as the investment manager or sponsor to an Alternative Investment Fund (AIF) that will be registered with the Securities and Exchange Board of India (SEBI) under the SEBI (Alternative Investment Funds) Regulations, 2012.This strategic initiative is aimed at leveraging the companys existing financial services expertise while enabling revenue diversification through participation in the regulated alternative asset management sector.
The company is proposed to be incorporated in the State of Haryana, India.
Satin Creditcare Network is a leading microfinance institution (MFI) in the country. The company offers a bouquet of financial products in the non-MFI segment, comprising loans to MSMEs and affordable housing loans.
The companys consolidated net profit declined 82.9% to Rs 21.89 crore on 3.8% fall in total income to Rs 622.50 crore in Q1 FY26 over Q1 FY25.
The scrip rose 0.89% to settle at Rs 158.85 on the BSE.
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