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FINWIRES

Satin Creditcare Network Raises INR2 Billion Capital; Shares Up 4%

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-- Satin Creditcare Network (NSE:SATIN, BOM:539404) raised 2 billion Indian rupees in subordinated Tier II capital for a tenure of seven years, according to a Thursday filing to the Indian stock exchanges.

The long-term tenor of the capital will help improve the company's capital adequacy and offer a buffer for expansion across its core and emerging platforms, the statement said.

The company plans to use the funds raised for expanding high-impact lending segments, including income-generating loans and water, sanitation, and hygiene financing, along with supporting the growth of its subsidiaries.

The company's shares were up nearly 4% in recent trade.

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