Satin Creditcare is present in 16 states, with a network of 431 branches serving 1.85 million customers, as on 31 March. On 30 June, Satin Creditcare informed the stock exchanges that its board had approved raising equity capital of up to Rs.250 crore. Firms such as Bharat Financial and Satin Creditcare have also seen strong run-up in their stock price. Satin Creditcare Network Ltd (SCNL), a Delhi-based microlender, is looking to raise as much as Rs.200 crore through a qualified institutional placement (QIP), on back of strong growth in the microfinance industry, three people aware of the development said. The plans of these microfinance companies indicate that the fund-raising environment for such companies is gaining traction.

Source: Mint July 21, 2016 20:20 UTC