Promoters of SCNL reduce pledge percentage to 3.09 pc

The promoters of Satin Creditcare Network Ltd (SCNL) have reduced the pledge percentage of company from 8.9 per cent on July 16 last year to 3.09 per cent now.

The promoters hold 2.75 crore equity shares on a fully diluted basis of which 8.5 lakh equity shares are pledged. This amounts to 3.09 per cent of the company's holding and 1.18 per cent of total equity paid-up capital.

Besides, the percentage of shares pledged has come down from 52.88 per cent of promoters' holdings on December 31, 2018.

SCNL is a leading microfinance institution in the country with a presence in 23 states and union territories and around 84,000 villages.

The company mission is to be a leading micro-financial institution by providing a comprehensive range of products and services for the financially under-served community.

( With inputs from ANI )

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