Satya MicroCapital Limited, raises funds worth INR 11 plus CR, through the issue of new shares

Mumbai, June 13, 2018: Satya MicroCapital Limited, one of the fastest growing microfinance companies in India, has raised funds in the form of share capital worth INR 11,47,95,000, from its existing investors through a rights issue of new shares. The issue opened on April 20, 2018 for new shares priced at INR 45 each and was closed on May 5, 2018, with 107 investors being allotted 25,51,000 shares. The NBFC-MFI plans to utilise the latest capital infusion towards expanding its presence and building its portfolio of assets under management in both its existing, as well as new geographies.

Satya MicroCapital Limited, headquartered in New Delhi, is an NBFC-MFI serving low-income entrepreneurs in India’s rural and urban areas. It provides prompt, convenient, and affordable collateral-free credit to people at the bottom of the pyramid through a strong credit assessment and centralised approval system. The company started its microfinance operations by adopting the Joint Liability Group (JLG) Model with the use of technology and new adaptations. The firm’s JLG lending operation mainly focuses on women, with their husbands acting as co-borrowers through a credit product that allows them to start a new business or build their existing business.

Spokesperson, Satya MicroCapital Limited, commented, “Our goal is to build a company that can contribute positively to the economy and make a difference in the lives of people. We want to not only expand our overall loan book, but are also focusing on building a stronger capital base that will help us extend our reach and serve more customers by offering them finance options for their livelihood and entrepreneurial undertakings. Having covered major rural areas in seven states, we now plan to venture into the less financially penetrated states and take our offerings to the country’s masses. The capital raised will, therefore, help us scale up both our technology and operations in the near future and effectively fulfil our growth objectives.”

By facilitating access to simplified microfinance solutions for Indians, Satya MicroCapital Limited envisions serving as a catalyst for the socioeconomic upliftment of five million households by the year 2025. Since its inception in October 2016, Satya MicroCapital Limited has registered impressive growth, having disbursed loans worth INR 277.48 crore across seven states.

About Satya MicroCapital Limited:
Satya MicroCapital Limited is an NBFC-MFI that serves low-income entrepreneurs in India’s rural and urban areas. Incepted in October 2016, the company has since registered impressive growth by achieving an Assets under Management (AUM) value of over Rs. 100 crores in just 1 year, thus emerging as one of the fastest growing MFIs in the country.

The organization’s firm belief in modern technology and its potential to increase efficiency, reduce risks, and enhance overall customer experience is apparent in its adoption of the most cutting-edge innovations to power its operations. Satya MicroCapital Limited launched its microfinance operations from its Sikandrabad branch in the Bulandshar district of Uttar Pradesh. The firm has since established 42 branches across 42 districts in seven states, namely Bihar, Chhattisgarh, Haryana, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand.

The team at Satya MicroCapital Limited comprises professionals having significant experience of scaling up microfinance programs in some of the most economically underdeveloped regions of India. The company is also supported by investors and partners with a remarkable track record of promoting sustainable and scalable organizations.

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