The Company has allotted a total of 30,76,916 shares (i.e. 7,69,229 Shares each) to a group of investors namely Aarti Agrifeeds LLP, Adesh Agricare LLP, Adesh Agrifarm LLP and Trimudra Trade & Holdings Private Limited.
The Company has also allotted a total of 2,46,15,384 warrants (i.e. 1,23,07,692 warrants each) to Trishashna Holdings & Investments Private Limited (Promoter & Promoter Group) & Florintree Ventures LLP (Non-Promoter) at a convertible option in one or more tranches, within eighteen (18) months from the date of allotment into equivalent number of fully paid-up equity shares.
Satin will use the funds as growth capital to boost its position in the lending ecosystem and to accelerate its strategic priorities.
Commenting on the allotment, HP Singh, Chairman & Managing Director of Satin Creditcare Network Limited, said “We are pleased to welcome the marquee investors who strongly trust in the growth and potential of the Company. We at Satin are very humbled by the opportunity, as this investment will not only help us to meet our medium-term goals but also help in accelerating our long-term strategic priorities, and driving the Company’s growth. This fundraise of INR 225 Crores will help us recuperate in these uncertain times. These investments reaffirm the faith the market has in Satin even during these challenging times that it is well poised to deliver profitable growth over the long term while focusing on portfolio quality.
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