Will be able to distribute Capital First products through our outlets: Satin Creditcare

Satin Creditcare Network is in focus as the company has raised Rs 35 crores via issuance of convertible redeemable preference shares.

“There is a time period of about a year when Capital First will be able to convert it into equity shares and once they convert, they will get about 3 percent of equity capital as of right now,” HP Singh, Founder & MD of Satin Creditcare told CNBC-TV18.

In this strategic tie up, Satin Credit Care will be able to distribute Capital First’s financial products all across through their own network. So Singh believes this is a very significant strategic tie up happening.

“This is not an equity tie-up which you are trying to look at, this is far more a business and a strategic tie-up happening across the products,” said Singh.