Satin Creditcare raises Rs 150 cr via QIP

Microfinance lender Satin Creditcare Network has raised Rs 150 crore from investors including DSP BlackRock, Birla Mutual Fund and UTI Mutual Fund, among others through a qualified institutions placement.

"We plan to grow our microfinance book especially in our new areas of operations, and also diversify our book by providing financing to MSMEs and to the affordable housing segment," its chairman HP Singh said.

The MFI plans to grow its loan book to Rs 5,500 crore by March from the present Rs 4,500 crore.

The issue opened on October 4 and closed on 7 though which it issued up to 49. Lakh equity shares to QIBs at an issue price of Rs 305 per share.