Penny stock under Rs 50: Board to consider raising of funds by way of issuance of equity shares or any other mode
As of December 2024, SBI Life Insurance Co. Ltd owns a 9.87 per cent stake and Life Insurance Corporation of India (LIC) owns a 1.35 per cent stake.
Paisalo Digital Limited inform you that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, April 08, 2025, interalia, to consider raising of funds by way of issuance of equity shares and/or any other eligible securities through permissible modes, including but not limited to a private placement, preferential issue or any other method or combination of methods subject to such approvals as may be required.
Earlier, according to the terms of 9.95 per cent Listed, Secured Redeemable Non-Convertible Debentures having a face value of Rs 1,00,000 each (NCDs), the company has partly redeemed 1,200 NCDs on their maturity date, i.e., March 28, 2025. Furthermore, regarding the issue, the remaining 600 NCDs under the said ISIN are scheduled to mature on June 28, 2025.
About the Company
Paisalo Digital Limited, a listed NBFC registered with the Reserve Bank of India, has a robust distribution network in rural and semi-urban India. Serving over 65 lakh customers through 3275 touchpoints across 22 states, Paisalo is a pioneer in credit distribution and income-generation loans. Facilitating over Rs 3,400 crore in transactions within two years, with a customer base exceeding 59 lakh, Paisalo demonstrates its commitment to financial inclusion. Its business correspondent model, strategic partnerships with banks like SBI and Bank of India, advanced technology, and customer focus enable it to reach underserved regions and provide banking services to India's underbanked population.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
According to the financials, the company has a market cap of over Rs 3,200 crore. In its quarterly and nine-month results, the company reported positive numbers. In Q3FY25, the net sales increased by 11.6 per cent to Rs 203.75 crore and the net profit increased by 10.6 per cent to Rs 62.43 crore compared to Q3FY24 while in 9MFY25, the net sales increased by 24.6 per cent to Rs 577.33 crore and the net profit increased by 8.1 per cent to Rs 153.83 crore compared to 9MFY24.
The stock’s 52-week high is Rs 86.82 per share and its 52-week low is Rs 34.48 per share. As of December 2024, SBI Life Insurance Co. Ltd owns a 9.87 per cent stake and Life Insurance Corporation of India (LIC) owns a 1.35 per cent stake. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.