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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.
| 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 |
| 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 |
| 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 | |
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.
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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
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: satin.rights@linktime.co.in
Website: http://www.linkintime.co.in
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 Date | Aug 12, 2020 |
| Issue Closing Date | Aug 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:
Steps to apply for Satin creditcare Rights Issue using Net Banking (ASBA)
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)
Rs 0 Eq Delivery Brokerage
Flat ₹10 Per Trade in F&O
Rs 0 Demat AMC
