“…we hereby inform you that the company at its meeting held today i.e. March 12, 2025, inter-alia, had considered and approved the enhancement of limit for issuance of Letter of Comfort/Side Letter or any other letter by whatever name called, upto an amount not exceeding ₹300 Crore (Indian Rupees Three Hundred Crore Only) from existing limit of ₹200 Crore (Indian Rupees Two Hundred Crore Only)…,” Satin Creditcare in a regulatory filing.
The move, approved by the company’s board on March 12, 2025, is aimed at facilitating SHFL’s credit arrangements with lenders. The enhanced limit will enable Satin Creditcare to issue Letters of Comfort or Side Letters in support of SHFL’s fund-raising efforts without assuming a direct payment guarantee.
Also Read: Satin Creditcare Network gains on 34% YoY growth in AUM in FY24
The transaction, which involves a common directorship between the two entities, will be conducted on an arm’s length basis.
Satin Creditcare Network is a leading microfinance institution in the country with a presence in 29 states and union territories and 90,000 villages. Satin Creditcare offers a bouquet of financial products in the non‐MFI segment, consisting of loans to MSMEs, a housing finance subsidiary, business correspondent services, and similar services to other financial institutions.
Shares of Satin Creditcare Network Ltd ended at ₹143.35, down by ₹1.25, or 0.86%, on the BSE.
Also Read: Satin Creditcare launches QIP today; floor price at ₹242.81 per share
