SATYA MicroCapital Propels Financial Inclusion with Rs. 300 Crore Rights Issue

SATYA MicroCapital Limited, a leading NBFC-MFI registered with the Reserve Bank of India, has unveiled plans to raise up to Rs. 300 Crore through a rights issue of shares. This strategic move is aimed at existing shareholders who have pre-emptive rights.

The influx of capital will be directed towards expanding SATYA's loan portfolio, bolstering technology infrastructure, and enhancing operational capacities to spearhead inclusive growth. Additionally, this rights issue is designed to augment the company's capital adequacy, improve lending capacity, and strengthen geographic reach to underserved areas in rural and semi-urban locales.

According to MD & CEO Vivek Tiwari, the rights issue aligns with SATYA's ongoing mission to empower micro-entrepreneurs, predominantly women, by providing them affordable credit. Since its inception in 2017, the company has assisted over 1.6 million clients in 26 states, making substantial developments in fostering financial inclusion and socio-economic upliftment.

(With inputs from agencies.)