SBI & LIC’s Portfolio Penny Stock Under Rs 60 In Focus as Promoter Group - Equilibrated Venture Cflow Pvt Ltd Pledge Shares Revoked; Details Inside
The stock is up by 41.33 per cent from its 52-week low of Rs 40.40 per share.
Equilibrated Venture Cflow Private Limited, a promoter group entity of Paisalo Digital Limited, recently released pledged shares of the target company in compliance with Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. This move was formally communicated through a disclosure submitted to both the National Stock Exchange of India Limited and BSE Limited on December 18, 2024. The released shares, amounting to Rs 6,78,25,000, constitute 7.55 per cent of the total share capital, reflecting a strategic decision to manage promoter shareholdings effectively. The release, involving pledged shares previously encumbered in favour of Ellenbarrie Industrial Gases Ltd
On December 09, 2024, the promoter of the company - EQUILIBRATED VENTURE CFLOW (P) LTD bought 7,39,112 shares via the open market.
Additionally, Paisalo Digital Limited has informed investors about upcoming meetings. The Operations and Finance Committee will convene on December 19, 2024, to discuss and approve the allotment of Commercial Papers through Private Placement. Separately, the Board of Directors meeting scheduled for December 23, 2024, will focus on a proposal to raise funds through the issuance of equity shares, convertible warrants, or other securities via a preferential private placement, subject to necessary regulatory and shareholder approvals.
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Established in 1992, Paisalo Digital Ltd, a non-deposit NBFC operating out of Delhi (registered office) and Agra (head office), empowers businesses and individuals through a range of financial products like business loans, SME & MSME loans, and income generation loans for entrepreneurship. As of September 2024, SBI Life Insurance Co. Ltd owns a 9.92 per cent stake, the State Bank of India (SBI) owns 1.23 per cent and Life Insurance Corporation of India (LIC) owns a 1.35 per cent stake in the company.
According to the financials, the company has a market cap of over Rs 5,000 crore. In its Quarterly Results and annual results, the company reported positive numbers. As of September, the company's promoters bought 45,19,710 shares and increased their stake to 52.38 per cent compared to 51.66 per cent in June 2024. The stock is up by 41.33 per cent from its 52-week low of Rs 40.40 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.