Satin Creditcare Network a Non-Banking Finance Company (NBFC) is one of the leading microfinance institutions in India with its current geography in North as well as Central India.
SCNL provides loans to both urban poor and rural poor to meet their productive requirements in starting new business or for growing an existing business. The company’s microfinance operation is based on both Joint Liability Group (JLG) model as well Self Help Group model (SHG).
Equator Capital Partners through its ShoreCap II Fund held 3,908,188 shares representing 12.23% as of March, 2016 – sold 1,000,000 shares worth Rs. 37.63 Cr thereby bringing down their stake to 2,908,188 shares or 9.10%.
Equator Capital Partners currently manages ShoreCap II Limited (“SC II”), formed for the purpose of investing capital in, and providing capacity-building services to, and regulated financial institutions that serve small and micro entrepreneurial entities in developing and transitional economies.
Morgan Stanley Asia purchased part of this stake sale of 830,334 or 2.60% at a price of Rs. 375/- per share thereby valuing the purchase at Rs. 31.14 Cr. The stock closed at Rs. 375.75/- down close to 7%.
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