LIC's portfolio penny stock under Rs 40: Company allotment of 3,72,517 equity shares to its employees
The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 34.43 per share.
On Friday, shares of Paisalo Digital Ltd plunged 1 per cent to Rs 37 per share from its previous closing of Rs 37 per share. The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 34.43 per share.
Paisalo Digital Limited has announced the allotment of 3,72,517 equity shares to its employees and those of its subsidiary, Nupur Finvest Private Limited, under the Paisalo Employee Share Purchase Scheme 2024 (PDL ESPS 2024). This allotment, approved by the Operations and Finance Committee of the Board of Directors on February 28, 2025, complies with SEBI regulations and increases the company's paid-up capital to Rs 90,21,18,289. The shares, with a face value of Re 1 each, were issued at an exercise price of Rs 34.69, including a premium of Rs 33.69, and are subject to an 18-month lock-in period.
The allotment stems from options granted under the PDL ESPS 2024, which allows for the issuance of up to 89,80,439 equity shares, representing 1 per cent of the company's paid-up capital as of June 30, 2024. The shares, issued at an 18% discount to the market price, rank pari passu with existing equity shares. The allotment has resulted in diluted earnings per share of Rs 0.69. The shares are listed on the National Stock Exchange of India Limited and BSE Limited, with necessary approvals obtained in December 2024.
Additionally, 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.
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About the Company
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.
According to the financials, the company has a market cap of over Rs 3,000 crore. In its quarterly 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.
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Disclaimer: The article is for informational purposes only and not investment advice.