Satin Creditcare Network Ltd approves issue of 25000000 NCRCPS

The Board of Directors of Satin Creditcare Network Ltd at its meeting held through video conferencing at 05.30 P.M. on April 25, 2016 has considered and approved the issuance of 2,50,00,000 Non-Convertible, Rated, Redeemable, Cumulative, Preference Share (NCRCPS) of Rs. 10/- each aggregating upto Rs. 25,00,00,000/-, on a private placement basis to the persons belonging to non-promoter group.

The Board also approved increase in the maximum number of Directors of the Company from existing fifteen to upto twenty.

Shares of Satin Creditcare Network Ltd. was last trading in BSE at Rs.312.3 as compared to the previous close of Rs. 316.60. The total number of shares traded during the day was 1406 as against 2 week average of 3696 shares.

The stock hit an intraday high of Rs. 320 and intraday low of 290. The gross delivarable quantity during the day was 789 shares.

Source : Equity Bulls

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