Promoter bought 7,39,112: SBI & LIC’s portfolio penny stock under Rs 70; Board to consider and approve allotment of Commercial Papers through Private Placement Basis
The stock is up by 46 per cent from its 52-week low of Rs 40.40 per share.
Paisalo Digital Limited informed you that a meeting of the Operations and Finance Committee of the Board of Directors of Paisalo Digital Limited is scheduled to be held on December 19, 2024, to consider and approve the allotment of Commercial Papers through Private Placement Basis.
Earlier, the Board of Directors of Paisalo Digital Limited announced it is scheduled to be held on December 23, 2024, inter alia, to consider, evaluate and approve a proposal to raise funds by way of issuance of equity shares and/or convertible warrants and/or other securities of the company by way of preferential issue on a private placement basis, subject to such statutory/regulatory approvals as may be required including the approval of the shareholders of the Company.
On December 09, 2024, the promoter of the company - EQUILIBRATED VENTURE CFLOW (P) LTD bought 7,39,112 shares via the open market.
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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 46 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.