• Price fixed at Rs 60 /- 

• Equity size of 1,99,82,667 equity shares

• Satin Creditcare Network to raise Rs. 119.89 crores

INDIA, 6 AUGUST, 2020 (GPN): Satin Creditcare Network Limited (BSE: 539404 | NSE: SATIN) one of the leading microfinance institutions, launches its Rights Issue opens on August 12, 2020 and closes on August 26, 2020. The price is fixed at Rs. 60/- per fully paid-up equity share of face value of Rs. 10/- each, including a premium of Rs. 50/- per equity share for an aggregate amount of up to Rs. 119.89 crores. The total number of equity shares to be issued is 1,99,82,667 partly paid-up equity shares of face value of Rs. 10/- each for amount aggregating to Rs. 119,89,60,020 /- in the rights entitlement ratio of 48 Rights Equity Shares for every 125 existing fully paid shares held by eligible equity shareholders as on record date Wednesday, August 5, 2020 for the purpose of determining the shareholders eligible to apply for the equity shares in the Rights Issue. Shareholders only need to pay Rs 15/- on application and Rs 45/- on subsequent calls as may be determined by the Board/Committee of the Board, from time to time.

Satin Creditcare Network Limited is a leading microfinance institution (MFI) in the country with presence in 23 states and union territories across India and around 86,000 villages. The company’s mission is to be a one stop solution for the excluded households at the bottom of the pyramid for all their financial requirements. The company also offers a bouquet of financial products in the Non‐MFI segment (comprising of loans to MSMEs), a housing finance subsidiary, and business correspondent services as well as similar services to other financial Institutions through Taraashna Financial Services Limited, a business correspondent company and a 100% subsidiary of Satin Creditcare Network Limited.

In April 2017, Satin Creditcare Network Limited incorporated a wholly owned housing finance subsidiary (Satin Housing Finance Limited or “SHFL”) for providing loans to the affordable housing segment. In January 2019, the company received a separate NBFC license to commence MSME business, Satin FinServ Limited. As of March 2020, SCNL had 1,383 branches and a headcount of 13,005 across 23 states and union territories serving 34.6 lacs clients. Satin Creditcare Network Limited is a pan‐India player with a strong presence throughout Uttar Pradesh, Bihar, North East, Madhya Pradesh and is a dominant player in its other states of operations.

The company’s assets under management (AUM) stood at Rs 8,174 crores in FY20 as compared to Rs 7,068 crores in FY19, a YoY growth of +15.6%. Net Interest income at Rs 917 crores in FY20 as compared to Rs 803 crores, a YoY growth of +14.2%. Pre-Provisioning Operating Profit (PPOP) grew to Rs 434 crores in FY20 as compared to Rs 374 crores in FY19, a YoY growth of +16.3%. Profit After Tax (PAT) stood at Rs 155 crores in FY20 as compared to Rs 201 crores in FY19, a YoY of -22.9%. ROA (%) at 2.2% in FY20 as compared to 3.1% in FY19, a YoY of -90 bps. ENDS

CMD PROFILE:

Mr. H P Singh, Chairman and MD of Satin Creditcare Network Limited is a law graduate and fellow of The Institute of Chartered Accountants of India since 1984. Mr. Singh has over three decades of microfinance experience to his credit and is responsible for pioneering the unique concept of daily collection of repayments of loans. Aside being an expert in lending, particularly in the microfinance field, Mr. Singh also has a wealth of experience across auditing, accounts, project financing, advisory services, and company law matters. It is his financial engineering acumen, honed over almost thirty years of experience, which has helped SCNL achieve its success in operational strategy and efficiency. Mr. Singh also participated in Harvard Business School’s Accion Program on Strategic Leadership for Microfinance in 2009, as well as the leadership program organized by Women’s World Banking at Wharton Business School, University of Pennsylvania in 2011. Mr. Singh has been an inspiration right from the very beginning when the company came into being in 1990, till today where he continues to be actively involved in the company’s day-to-day operations. Under his leadership, SCNL has grown into one of India’s leading microfinance institutions, poised to further expand its operations across the country.