Asian Development Bank which is a multi lateral funding agency, has invested Rs 64.3 crore in a micro lender Satin Creditcare Network Ltd (SCNL) that is equivalent to 3.95 percent stake in the company.

Moreover, Rs 7.5 crore has been put in by the promoter group firm Trishashna Holdings & Investments Private (THIPL) that brings overall holding to 31.74 percent in the company.

The company has said in a statement that “The proceeds of Rs 71.8 crore from this transaction will strengthen SCNL’s equity capital. The additional financial resources will allow us to pursue development objectives while maintaining a solid financial structure.”

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