LIC-owned small-cap NBFC stock gains on ₹50 crore fundraising plan despite weakness in Indian stock market
The Operations and Finance Committee of Board of Directors of Paisalo Digital in their meeting held on Tuesday, August 5, has approved the issuance of Non-Convertible Debentures on a private placement basis, through Electronic Bidding Platform (EBP) Platform, Paisalo Digital said in a regulatory filing on Tuesday.
Paisalo Digital plans to issue up to 5,000 NCDs, each with a face value of ₹ 1 lakh, aggregating to ₹ 50 crore. This includes a base issue of ₹ 25 crore and a green shoe option of ₹ 25 crore.
The debentures will carry a coupon rate of 9.75% per annum, payable quarterly, and are proposed to be listed on the BSE. The tenure of the NCDs is 36 months, with a tentative allotment date of August 8, 2025. Redemption will occur on maturity, three years from the date of allotment.
Paisalo Digital share price has gained 3% over the past month, but is down 7% over three months. The smallcap stock has declined 29% in the last six months and is down 37% year-to-date. Over the past one year, Paisalo Digital share price has corrected by 50%, and has dropped 21% over a three-year period.
At 12:00 PM, Paisalo Digital share price was trading 1.56% higher at ₹ 31.29 apiece on the BSE.
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