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India's Satin Creditcare Network raises 1.5B rupees through QIP

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India's Satin Creditcare Network raises 1.5B rupees through QIP

India's Satin Creditcare Network Ltd. raised 1.5 billion rupees of equity capital through a qualified institutional placement, Mint reported Oct. 9, citing a company release.

The offer opened Oct. 4 and closed Oct. 7, the company said in an Oct. 7 stock exchange filing. The shares were issued to qualified institutional buyers at 305 rupees per share, which included a premium of 295 rupees. The company said it offered a discount of 1.15% on the floor price of 308.56 rupees per share.

As of Oct. 9, US$1 was equivalent to 65.44 Indian rupees.