SATIN CREDIT NET LTD

Satin Creditcare Network Limited (SCNL) was formed in 1990 as a Non-Banking Finance Company (NBFC) with the simple concept of providing individual loans to urban shopkeepers for tiny businesses. Since then the company has expanded and evolved into one of the leading microfinance institutions in India with its current geography in North as well as Central India. SCNL provides loans to both urban poor and rural poor to meet their productive requirements in starting new business or for growing an existing business. The Company is engaged primarily in providing micro finance services to women in the rural areas of India who are enrolled as members and organized as Joint Liability Groups (JLG). The Company launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990. Company completed the IPO in 1997 and was duly listed on the Delhi Stock Exchange (DSE), Ludhiana Stock Exchange (LSE) and the Jaipur Stock Exchange (JSE). Following the subsequent derecognition of these exchanges by SEBI, the Company listed its Equity Shares on the Calcutta Stock Exchange (CSE) on May 19, 2015, on the NSE on August 26 and the BSE on October 20 in the same year, adhering to the guidelines and policies issued by SEBI regarding the exit option to regional stock exchanges (issued December 29, 2008) and the exit policy for derecognized/non-operational stock exchanges (issued May 30, 2012). The Company was registered as NBFC with the RBI in 1998. It started JLG operations in May 2008. In 2009, JLG business showed strong asset quality and large potential to scale up. The Company became the first MFI to be associated with MUDRA Bank that sanctioned its first loan of Rs 35 Crores in July, 2015. In 2015-16, the Company introduced a loan product for solar lamp where the existing clients of Company could availed a product on installment from the nearby branches. It started Health & Sanitation Loan from October, 2015. In 2016-17, Company acquired 7,977,239 Equity Shares of M/s Taraashna Services Limited (TSL) equivalent to 87.83% stake of TSL and resulting the acquisition, TSL was made subsidiary of the Company. Furtherance to this, Company raised approx. Rs.250 Crores by way of a Qualified Institutional Placement (QIP) and allotted 4,529,970 equity Shares of Rs.10 each to Qualified Institutional buyers (QIBs) at an issue price of Rs.551.88 per equity share on October 03, 2016. The Company ventured into MSME lending by incorporating Satin Finserv Limited in 2018. In 2023, the Company's subsidiary, Taraashna Financial Services Limited got merged with Satin Finserv Limited and became effective from March 1, 2023. The Company ventured into technology offerings with new subsidiary i.e. Satin Technologies Limited in August, 2024. In FY25, the Microfinance Institutions Network (MFIN) introduced Guardrails 1.0 in July 2024; followed by Guardrails 2.0 in November 2024, which took effect from January 1, 2025, with select provisions deferred to April. Key reforms in the Guardrails 2.0 included reducing the maximum number of microfinance lenders per borrower to three (from four), capping total indebtedness at Rs 2 Lakhs including unsecured retail loans, prohibiting lending to borrowers with overdue amounts exceeding Rs 3,000 for more than 60 days, and requiring enhanced transparency in disclosing interest rates and fees.