The board of directors of Satin Creditcare has approved raising up to Rs 225 crore via preferential issue of shares and warrants at an issue price of Rs 81.25 to non-promoter and promoter group category, the company said in an exchange notice on Monday.
The company will issue up to 30,76,920 shares amounting to Rs 25 crore to non-promoter category of investors, and issue 2.46 crore fully convertible warrants for an amount not exceeding Rs 200 crore to promoter, promoter group and non-promoter category of investors.
The non-bank lender will hold an extraordinary general meeting on December 31 to seek shareholders’ approval for the fundraise.
After the preferential issue, the promoter and promoter group will hold 39.98% stake in the company, according to the notice.