Debt

Debt financing

Lender to MSMEs Satin Finserv raises Rs.60-Cr through NCDs

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Satin Finserv, the MSME-focused lending arm of Satin Creditcare Network Ltd, has raised INR 60 crore through the issuance of listed, secured Non-Convertible Debentures (NCDs). The funds were raised from institutional investors in two tranches of INR 30 crore each. These NCDs carry a coupon rate of 10.95% per annum.Satin Finserv provides loans to individuals, micro, small, and medium-sized enterprises (MSMEs), and corporates, focusing on financial inclusion for the economically excluded and supporting the growth of small businesses. The proceeds from this funding will be used to expand the company’s core lending activities along with its recently introduced Green Finance initiative.