Promoters bought 57,01,258 shares of multibagger NBFC stock backed by SBI & LIC; Board announces 1:1 bonus share – script hit 52-week high
The stock gave multibagger returns of 136.1 per cent in 6 months whereas BSE Small-Cap Index is up by 29.1 per cent.
Today, one of the Top Gainers on BSE, shares of Paisalo Digital Ltd gained 7.65 per cent and made a new 52-week high of Rs 145.90 per share from its previous closing of Rs 134.70 per share. At the closing bell, shares of the company were trading at Rs 142.95 per share, up 6.12 per cent.
The Board of Directors has approved the issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 1 each for every one existing equity share of Rs 1 each held by the shareholders of the company as on the record date. The company fixed the record date as Wednesday, March 20, 2024.
Additionally, the company have allocated 600 commercial papers worth Rs 4,86,653.50 each aggregating to Rs 29,19,92,100 with an 11 per cent yield and tenure is 91 days from the date of allotment with a redemption value of Rs 30,00,00,000.
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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 December 2023, the State Bank of India (SBI) owns 12.69 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 6,400 crore. In its Quarterly Results and annual results, the company reported positive numbers. As of December 2023, the promoters of the company bought 57,01,258 shares and increased their stake to 48.86 per cent compared to 47.05 per cent in September 2023.
The stock gave multibagger returns of 136.1 per cent in 6 months whereas BSE Small-Cap Index is up by 29.1 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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