Promoters bought 45,19,710 shares: SBI & LIC’s portfolio stock under Rs 70; Company has successfully raised the first tranche of USD 50 million via issuance of FCCB
The stock is up by 50 per cent from its 52-week low of Rs 40.40 per share.
On Monday, shares of Paisalo Digital Ltd plunged 2.52 per cent to Rs 60.02 per share from its previous closing of Rs 61.57 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.
Paisalo Digital Limited (PDL) has successfully raised the first tranche of USD 50 Million of Secured Foreign Currency Convertible Bonds (FCCB) as per RBI guidelines. This is PDL's first FCCB issuance, receiving good participation from global fixed-income funds and international credit funds. The 7.5 per centsecured FCCBs mature in 2029 and are convertible into equity shares or can be held to maturity. This strategic move will accelerate PDL's growth and enhance its financial resilience. The funds raised will be used to empower India's under-banked population through accessible and inclusive financial solutions.
Additionally, Paisalo Digital Limited has scheduled a meeting of its Operations and Finance Committee on December 11, 2024. The primary agenda items for this meeting include considering and approving the issuance (allocation) of Listed Commercial Papers through Private Placement and the subsequent allotment of these Listed Commercial Papers through the same method
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.
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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 50 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.