Satin Creditcare releases pledged shares

Satin Creditcare Network Limited announced that the company released 26.36 per cent of pledged shares on Thursday.

 The company's promoters had pledged 52.88 per cent of their shares holdings, which is 14.14 per cent from total paid-up capital, according to the company's December quarter results.

 Satin Creditcare announced on Thursday that the promoters have successfully released 26.36 per cent of its pledged shares. As compare to the total paid-up capital, 7.14 per cent shares (26.73 per cent of promoter’s holdings) remain pledged from now onwards.

 Satin Creditcare Network Limited is an NBFC-MFI which provides loans to individuals and small businesses, predominantly in semi-urban and rural areas. The company also provides financing to housing segment. Satin Creditcare maintains a focus on rural and semi-urban areas, ensuring that their services reach deep within those numerous regions that usually face low to moderate penetration by other microfinance institutions.

 The stock of Satin Creditcare was trading at Rs. 298 per share, which shows an appreciation of 0.29 per cent than its previous close of Rs. 297.15, also it made a high of Rs. 301 and low of Rs. 285.10 in the first trading session.