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Satin Creditcare Network Limited Rights Issue (Satin creditcare Rights Issue) Detail

Aug 12, 2020 - Aug 26, 2020
Satin Creditcare Network Limited Logo

Incorporated in October 1990, Satin Creditcare Network Ltd. (SCNL) - (erstwhile known as Satin Leasing & Finance Ltd.) is a micro finance institution that provides prompt, hassle-free and affordable financial & community services to low-income households. SCNL is registered with the RBI as an NBFC-MFI. In May 2008, SCNL diversified and launched a rural micro finance vertical inspired by the Grameen Model. It provides collateral free, micro-credit facilities to economically active women in both rural and semi-urban areas, who otherwise have limited access to mainstream financial service providers.

SCNL is a non-political, non-religious, no caste-based organization. The company is backed by 34.6 lakh customers, 1,383 branches, 397 districts and 23 states, with Assets under Management (AUM) of Rs. 8173.67 cr. as on March 31, 2020. The Company's operations are based on a Joint Liability Group (JLG) model that enables collateral-free, micro-credit facilities to economically active women in both rural and semi-urban areas.

SCNL offers income-generating loan (IGL) products to its clients on the principle of Joint Liability Group (JLG) lending model or on an individual basis of lending, based on their repayment ability. The loans are used for a variety of economic activities and eventually help in increasing the income generating capacity of the borrowers. Employment, social welfare, and healthy working environment are the key by-products of the business of the company. SCNL also offers loans to micro, small and medium enterprises posting an annual turnover of less than Rs. 200 lakhs who are excluded from access to organized finance.

Satin creditcare Rights Issue Detail

Issue Open Aug 12, 2020 - Aug 26, 2020
Security Name Satin Creditcare Network Limited
Issue Size (Shares) 2.00 Crores
Issue Size (Amount) ₹119.90 Crores
Issue Price ₹60 per share
Face Value ₹10 per share
Minimum Lot size
Market Lot 1 per share
Listing At
Terms of Payment On Application, Investors will have to pay ?15 per Rights Equity Share (25% of the Issue Price). The balance ?45 per Rights Equity Share (75% of the Issue Price), will have to be paid, on one or more subsequent Call(s), as determined by our Board/ Committee at its sole discretion, from time to time.
Entitlement 48 Rights Equity Share for every 125 Equity Shares held on the Record Date

Satin creditcare Rights Issue Issue Timetable

Bid/Offer Opens On Aug 12, 2020
Bid/Offer Closes On Aug 26, 2020
Record Date Aug 5, 2020
Deemed Date of Allotment Sep 7, 2020
Renunciation of Rights Entitlements

Company Financials

Summary of financial Information (Consolidated)
Particulars For the year/period ended (? in Million)
31-Mar-20 31-Mar-19
Total Assets 72,996.18 67,409.58
Total Revenue 15,034.32 14,451.43
Profit After Tax 1,549.73 2,014.96

Objects of the Issue:

The Net proceeds from the rights issue are to be utilized:
1) To increase the capital base of the Company to meet future capital requirements and funding requirements for growth of Company's business and operations.
2) For general corporate purposes.

Satin creditcare rights issue is of partly paid up equity shares

Satin creditcare Rights Issue Documents

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Company Contact Information

Satin Creditcare Network Limited
5th Floor, Kundan Bhawan
Azadpur Commercial Complex,
Azadpur, Delhi- 110033,

Phone: +91 11-47545000
Email: info@satincreditcare.com
Website: http://www.satincreditcare.com

Satin creditcare Rights Issue Registrar

  1. Link Intime India Private Ltd
    Phone: +91-22-4918 6270
    Email: satin.rights@linktime.co.in
    Website: http://www.linkintime.co.in

Satin creditcare Rights Issue Lead Manager(s)

Satin creditcare Rights Issue FAQs

The Satin creditcare Rights Issue opens on Aug 12, 2020, and closes on Aug 26, 2020.

Satin creditcare Rights Issue Schedule

Last Date for credit of Rights Entitlements
Last Date for renunciation of Rights Entitlements
Issue Opening DateAug 12, 2020
Issue Closing DateAug 26, 2020
Date of Allotment (on or about)Sep 7, 2020
Date of Credit (on or about)Sep 8, 2020
Date of Listing (on or about)Sep 11, 2020

Satin creditcare Rights Issue price is set at ₹60 per share per equity share.

The eligible shareholders are being offered 48 Rights Equity Share for every 125 Equity Shares held on the Record Date (Aug 5, 2020).

The record date for the Satin creditcare Rights Issue is Aug 5, 2020.

The issue size of Satin creditcare Rights Issue is of 2.00 Crores equity shares at ₹60 per share aggregating upto ₹119.90 Crores.

The Letter of Offer for Satin creditcare Rights Issue can be download here.

You can apply for Satin creditcare Rights Issue in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Satin creditcare Rights Issue using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Satin creditcare Rights Issue available on the list.
  4. Click the Apply button next to the Satin creditcare Rights Issue.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Satin creditcare Rights Issue using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Satin creditcare Rights Issue from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.