Promoter bought 7,39,112 via open market: SBI & LIC’s portfolio penny stock under Rs 65 to keep under the radar
The stock is up by 55.70 per cent from its 52-week low of Rs 40.40 per share.
On Tuesday, shares of Paisalo Digital Ltd gained 1.66 per cent to Rs 62.89 per share from its previous closing of Rs 61.86 per share. The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 40.40 per share.
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.
On December 09, 2024, the promoter of the company - EQUILIBRATED VENTURE CFLOW (P) LTD bought 7,39,112 shares via the open market.
Earlier, PDL successfully raised USD 50 Million in Secured Foreign Currency Convertible Bonds (FCCBs). This inaugural FCCB issuance, well-received by global investors, will accelerate PDL's growth and enhance its financial resilience. Funds raised will empower India's under-banked population. Additionally, PDL's Operations and Finance Committee will meet on December 11, 2024, to consider and approve the issuance and allotment of Listed Commercial Papers through Private Placement.
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According to the financials, the company has a market cap of over Rs 5,500 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 55.70 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.