Satin Creditcare Network Ltd Board approves Rights Issue of Equity Shares

The Board of Directors of Satin Creditcare Network Ltd, at its meeting held today i.e. Monday, June 22, 2020 has, considered and approved the fund raising by way of the Rights Issue of Equity shares of Rs. 10/- each of the Company, to eligible equity shareholders of the Company as on the record date (to be notified later), of an issue size of up to Rs. 120 Crore (the "Issue").

Further, the Board has constituted 'Rights Issue Committee' to decide detailed terms and conditions of the Issue, including but not limiting to the deciding the payment modalities / schedule thereof, issue price, rights entitlement ratio, record date, timing, other terms and conditions and all other related matters etc.

Shares of Satin Creditcare Network Ltd was last trading in BSE at Rs.93.85 as compared to the previous close of Rs. 96.95. The total number of shares traded during the day was 67695 in over 920 trades.

The stock hit an intraday high of Rs. 101.75 and intraday low of 92.8. The net turnover during the day was Rs. 6508939.

Source : Equity Bulls

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