Satin Creditcare Network (SCNL) has done a direct assignment transaction with State Bank of India for an amount of ₹250 crore by assigning receivables with a tenure not exceeding 21 months.
The funds raised will be used for further growth in assets under management (AUM) of SCNL, it said in a statement. Shares of Satin Creditcare slumped 9.52 per cent at ₹271 on the BSE.