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Satin Creditcare Network has completed the conversion of ₹2.50 paid-up per share to ₹7.50 paid-up per share, against face value of ₹10 in the first call money of its partly paid rights issue. The company, in August 2020, had raised ₹120 crore through a rights issue of two-crore partly-paid shares.
The issue price was at ₹60 a share and the company had received ₹15 per share as application money. Subsequently, it made a first call of ₹30 a share during March. The promoters and institutional investors have made payments, aggregating to nearly 99 per cent of the call money.
Following the first call, Satin has infused ₹90 crore equity capital during FY21. Shares of Satin Credit Care closed 1.77 per cent lower at ₹83.40 on the BSE.
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