Satin Creditcare Network Ltd – Reaching out!

On 21.12.23
Satin allocated shares to seven institutional investors in a QIP, to raise ~ ₹250 crore.

• ICICI Prudential Life: 20% of QIP, ₹50 crore.
• Societe Generale – ODI: 16.40%, ₹41 crore.
• Bandhan Mutual Fund: 16%, ₹40 crore.
• Morgan Stanley Asia: 14%.
• Bajaj Allianz Life Insurance: 12%.
• Bandhan Small Cap Fund: 10%.
• Other funds: Bandhan Multi Cap, Bandhan Financial Services, Ananta Capital Ventures, Ghisallo Master Fund LP also received allocations.

I think This dilution is positve on the story.but havent study who is selling ?
I dont understand the satisn business much, simply based on PE it looks attractive to me, wish to understand more about future prospect of its business.

D – Small tracking position.