Microfinance lender Satin Creditcare Network limited (SCNl) on Tuesday said it plans to raise Rs 5,000 crore in the current fiscal to expand growth. It has raised an amount of Rs 25 crore by issuing non-convertible, redeemable shares on preference basis to Karvy Capital, it said in a BSE filing.
In April, it had raised a similar amount by issuing 2.5 crore preference shares on private placement basis to persons belonging to non-promoter group. “During 2016-17, the co plans to raise a total of Rs 5,000 crore, including both debt and equity,” it said in a release. It has been raising funds through term loans, Tier II capital, NCDs, preference shares, external commercial borrowings, commercial paper and securitisation in keeping with the firm’'s strategy to diversify resource profile, firm said.