MSME-focused Satin Finserv raises Rs 60 crore through listed, secured NCD issuance

Satin Finserv Limited (SFL), the MSME-focused arm of Satin Creditcare Network Limited (SCNL), has raised Rs 60 crore through the issuance of listed, secured, and rated non-convertible debentures (NCDs) in two tranches of Rs 30 crores each.

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The funds have been raised from institutional investors at a competitive coupon rate of 10.95% p.a., the release notes. The NCDs have been assigned a long-term rating of A- (Stable) by ICRA. The firm said it is well capitalized with a CRAR of 36.83% and debt to equity ratio of 2.46 times as on Jun’25.

The proceeds will be strategically deployed towards expanding the company’s core MSME lending operations along with its recently introduced Green Finance initiative.

Commenting on the development, Dr. HP Singh, Director, Satin Finserv Limited and Chairman cum Managing Director, Satin Creditcare Network Limited, said “This successful issuance highlights the trust placed in our growth story by marquee lenders. The funds raised will strengthen our ability to support India’s MSME ecosystem while also contributing to green finance. We are committed to providing innovative financial solutions that drive inclusive and sustainable growth.”

Satin Finserv Limited was incorporated in January 2019 and is focused on bridging the financing gap for small and medium enterprises by offering tailored lending solutions that empower entrepreneurs, drive business growth, and strengthen local economies.

As of Jun’25, SFL manages an AUM of Rs 582 crore, of which the MSME AUM stood at Rs 552 crore. It claims to have presence across 11 states through a network of 68 branches serving ~69,000 clients.