Kolkata: The Satin Creditcare Network board on Monday approved the proposed preferential allotment of fully convertible warrants to its promoter Trishashna Holdings & Investments.The promoter will infuse Rs 100 crore, taking its holding to 38.32% from 36.17%, people aware said.The company board approved the allotment of 38.5 lakh fully convertible warrants at Rs 260 apiece for cash. Satin received 25% of the payment upfront from the promoter, it said in a regulatory filing.As a result, its paid-up share capital on a fully diluted basis expanded to Rs 114.3 crore,Separately, Satin's wholly-owned subsidiary Satin Finserv announced raising of Rs 650 crore through a combination of debt and equity capital in the first quarter of the fiscal.It received Rs 120 crore equity from Satin which will be used as growth capital.Satin last week reported a 172% year-on-year surge in consolidated net profit at Rs 123 crore, backed by business expansion and asset quality improvement. The lender's credit cost reduced by over 177 basis points to 3.06%, including management overlay buffer of Rs 36 crores. Credit cost excluding managementoverlay stood at 1.97%.The group's assets under management grew 28% year-on-year to Rs 15935 crore at the end of June.