Satin Creditcare Network has raised Rs 332 crore from sovereign Dutch Entrepreneurial Development Bank FMO. The funds have been mobilised by the company through issuance of Non-Convertible Debentures (NCDs).
The microfinance lender has allotted 33,200 NCDs of face value of Rs 1,00,000 each aggregating to Rs 332 crore, a filing with the stock exchange notified.
The NCDs have a tenure of five years and the monies raised will be used by the company for its operations — income generating loans.
