Gurugram-based Microfinance lender Satin Creditcare Network Ltd (SCNL) is reportedly planning to raise to Rs 120 crore through a rights issue of shares.
In a filing at the stock exchange, SCNL said, “The board of directors of the company, at its meeting held on June 22, 2020, has considered and approved the fundraising by way of the rights issue of equity shares of Rs 10 each of the company, to eligible equity shareholders of the company of an issue size of up to Rs 120 crore.”
“The Board has constituted ‘Rights Issue Committee’ to decide the terms and conditions of the Issue, including but not limited to deciding the payment modalities/schedule thereof, issue price, rights entitlement ratio, record date, timing, other terms and conditions, and all other related matters, etc,” the filing added.
