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Satin Creditcare Network has raised ₹71.8 crore through issuances of shares and fully convertible warrants. In a notification to the exchanges, the company said it raised ₹64.3 crore through preferential allotment of 15 lakh equity shares to Asian Development Bank at ₹416.67 apiece. The remaining amount was raised through allotment of 6.586 lakh fully convertible warrants to promoter group company Trishashna Holdings & Investments Pvt Ltd. After conversion of warrants, Satin Creditcare will get an additional amount of ₹22.5 crore. Shares of Satin Creditcare Network edged up 3.3 per cent at ₹378.55 on the BSE.
Brigade Enterprises plans to raise up to ₹500 crore through private placement of shares to institutional investors for future growth of the company. In a BSE filing, the Bengaluru-based developer informed that the board has approved raising up to ₹500 crore by way of qualified institutional placement. “The opening of the issue, fixation of issue price, closing of the issue and allotment of equity shares will be done by the committee of directors of the company,” it added. In August last year, the company’s shareholders had approved a proposal to raise up to ₹500 crore through issue of securities. The company’s share price on Wednesday closed 4.22 per cent higher at ₹254.30 on the BSE.
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