Promoter Group Bought 16,81,903 Shares: LIC's Portfolio Penny Stock Under Rs 50; Board Meeting on February 28
The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 38.10 per share.
On Tuesday, shares of Paisalo Digital Ltd plunged 0.1 per cent to Rs 40.11 per share from its previous closing of Rs 40.15 per share. The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 38.10 per share.
The Board of Directors of Paisalo Digital Limited is scheduled to be held on February 28, 2025 to consider and approve the allotment of shares under Company’s PDL ESPS 2024 following terms of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Recently, Paisalo Digital Limited informed that the promoter group - Equilibrated Venture Cflow (P) Ltd bought 16,81,903 shares via the open market as per exchange. 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. As of December 2024, the company's promoters bought 14,89,325 shares and increased their stake to 52.62 per cent compared to 52.38 per cent in September 2024.
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 touch points 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.
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According to the financials, the company has a market cap of over Rs 3,500 crore. In its Quarterly Results 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.
Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.