New Delhi: Micro-finance firm Satin Creditcare Network Limited Wednesday said it has received approval for listing of shares on the NSE.
"... 2,90,81,361 equity shares of SCNL will be listed on NSE and admitted to dealings on the Exchange with effect from August 26, 2015," it said in a release.
Satin Creditcare is listed on the Delhi, Jaipur and Ludhiana stock exchanges since 1996. SCNL is also listed on the Calcutta Stock Exchange (CSE).
SCNL is a non-deposit taking NBFC-MFI serving over 12 lakh clients across Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Rajasthan, Delhi, Haryana, Chandigarh, Jammu, Maharashtra and Uttrakhand.
Currently, it has 5 foreign investors - ShoreCap, Danish Microfinance Partners K/S, Microvest, Norweign Microfinance Initiative Fund and SBI FMO Emerging Asia Financial Sector Fund Pte Ltd - who jointly hold 48.98 per cent stake in the company.
"We believe the NSE listing will expand our exposure and access to the investment community and increase interest in SCNL by knowledgeable investors with similar interests and vision.
"From the stakeholders' perspective, listing of our shares on the NSE will help to further add value in our offerings to all the invested stakeholders," H P Singh, Chairman, Satin Creditcare Network Limited, said.
