Satin Creditcare raises Rs 150 cr via QIP

Microfinance lender Satin Creditcare Network has raised Rs 150 crore from investors including DSP BlackRock, Birla Mutual Fund and UTI Mutual Fund, among others through a qualified institutions placement.

"We plan to grow our microfinance book especially in our new areas of operations, and also diversify our book by providing financing to MSMEs and to the affordable housing segment," its chairman HP Singh said.

The MFI plans to grow its loan book to Rs 5,500 crore by March from the present Rs 4,500 crore.

The issue opened on October 4 and closed on 7 though which it issued up to 49. Lakh equity shares to QIBs at an issue price of Rs 305 per share.

Exim Bank gives $110 m buyers' credit to Mauritania Mumbai: The Exim Bank has extended a buyers' credit line of USD 110 million to Mauritania government for financing of a power transmission project.

The fund given under the national export insurance account will be used for financing of design, supply and assembly of 225/90 kV transmission lines from Nouakchott to Nouadhibou in the African country, to be executed by Kalpataru Power Transmission, Exim Bank said in statement.

Xrbia to launch 50,000 affordable homes in Q4 Mumbai: Xrbia Developers will launch 50,000 affordable homes acrosss the Mumbai region and Pune in the March quarter.

In the Mumbai reigion the company will launch projects in Thane, Kandivali, Mira Road and Karjat while those in Pune will come at Balewadi, Dhanori and Market Yard, the company said.

The apartments will be priced at Rs 50 lakh for 1BHKs and 80 lakh for 2BHKs. The 1BHKs will have a carpet area of 180-230 sqft and 2BHKs will be of 305 sqft and will be completed in 60 months.

Bjaja to sell motor polcies at IndianOil pumps now Mumbai: Indian Oil Corporation and Bajaj Allianz General Insurance have entered into a strategic tie up for distribution of general insurance products.

The insurer will sell its retail products like motor, personal accident and health insurance policies through IOC's over 14,000 fuel stations across nine major states.

"We are confident that this partnership will help us take insurance solutions to some of the remotest corners of our country through these fuel stations," Manohar Bhat, chief business head for motor insuracne at Bajaj Alliance General said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)