Satin Creditcare To Consider Raising Funds Via NCDs On Sept. 20

Satin Creditcare Network Ltd. announced on Tuesday that the company will on Friday consider a proposal to raise funds through non-convertible bonds.

The company's board of directors will meet on Sept. 20 to consider the proposal for issuing listed, secured, non-convertible bonds on a private placement basis, the company said in its exchange filing.

Earlier, in June 24, the company had agreed to raise up to Rs 5,000 crore through non-convertible debentures. The board had also approved the appointment of Manoj Agarwal as the chief financial officer and Joydeep Datta Gupta as an additional director of the company for three years.

Shares of Satin Creditcare closed 0.43% lower at Rs 209.10 apiece on Tuesday, as compared with a 0.11% advance in the BSE Sensex.