SBI & LIC’s Portfolio Penny Stock Under Rs 55 In Green After Promoter Bought 7,50,213 Shares via Open Market on December 27
The stock is up by 33.4 per cent from its 52-week low of Rs 40.40 per share.
On Friday, shares of Paisalo Digital Ltd gained 4.07 per cent to Rs 53.90 per share from its previous closing of Rs 51.79 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.
On December 27, 2024, the promoter of the company - EQUILIBRATED VENTURE CFLOW (P) LTD bought 7,50,213 shares via the open market. Earlier, on December 09, 2024, the promoter of the company - EQUILIBRATED VENTURE CFLOW (P) LTD bought 7,39,112 shares via the open market.
Paisalo Digital Ltd proposes to issue up to 4,43,56,756 Fully Convertible Equity Warrants (Warrants) through a Preferential Issue to "Non-Promoter, Public Category" at an issue price of Rs 58.20 per warrant, aggregating up to Rs 2,58,15,63,200. These Warrants have a tenure of 18 months from the date of allotment and are convertible into 1 Equity Share each. The Warrants can be exercised in one or more tranches within this period, and any unexercised Warrants will lapse after 18 months, with the amount paid by the Warrant holder being forfeited by the Company. The consideration for the Warrants will be paid in cash.
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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 4,600 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 33.4 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.