Satin Creditcare Network Secures ₹200 Crore to Fuel Growth Initiatives
Satin raises Rs 200 cr to support its growth momentum
Business Standard
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Satin Creditcare Network Limited (SCNL) has successfully raised ₹200 crore (approximately $24 million USD) in subordinated Tier II capital for a seven-year term. This funding will enhance its capital base and support growth in high-impact lending sectors such as Income Generating Loans and Water, Sanitation, and Hygiene financing.
- 01Satin Creditcare Network raised ₹200 crore in Tier II capital.
- 02The funding has a tenure of seven years.
- 03Proceeds will support high-impact lending segments.
- 04Focus areas include Income Generating Loans and WASH financing.
- 05The move strengthens SCNL's position in the financial services sector.
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Satin Creditcare Network Limited (SCNL) has raised ₹200 crore (approximately $24 million USD) in subordinated Tier II capital for a duration of seven years. This strategic move aims to bolster its capital base, enabling sustained growth across its operations. The funds will primarily be allocated to expand high-impact lending segments, particularly focusing on Income Generating Loans (IGL) and Water, Sanitation and Hygiene (WASH) financing. Additionally, this capital injection will support the growth of SCNL's subsidiaries, further solidifying its position as a diversified and impact-driven financial services platform.
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This funding will enhance SCNL's ability to provide loans, which could lead to increased job creation and improved living standards in the communities it serves.
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