Latest news with #OperationsandFinanceCommittee
Business Upturn
4 days ago
- Business
- Business Upturn
Paisalo Digital raises Rs 50 crore via private placement of NCDs at 10% annual interest
Paisalo Digital Limited has announced the allotment of 5,000 secured, rated, listed, senior, redeemable, and taxable non-convertible debentures (NCDs) through private placement. Each NCD has a face value of Rs 1 lakh, aggregating to a total issuance of Rs 50 crore. The debentures carry an interest rate of 10% per annum, with monthly coupon payments. The tenure of the instrument is 24 months, with the maturity date set for June 3, 2027. Redemption of the principal will be made in a single payment at maturity. These NCDs are secured by a first-ranking pari-passu charge on loan receivables (hypothecated receivables), ensuring the value of security remains at least 1.10 times the principal outstanding. In the event of a delay in payment of interest or principal beyond three months from the due date, an additional interest of 2% per annum over the coupon rate will be applicable. The allotment was approved by the Operations and Finance Committee of the Board of Directors on June 3, 2025. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments and corporate debt instruments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
16-05-2025
- Business
- Mint
LIC-owned NBFC stock approves raising up to ₹50 crore via NCDs. Details here
LIC-backed non-banking financial company (NBFC) Paisalo Digital has approved raising funds up to ₹ 50 crore through the issuance of Non-Convertible Debentures (NCDs). The fundraising proposal was cleared by the company's Operations and Finance Committee at its meeting held on May 15, 2025, as per a regulatory filing. The proposed issue will take place through private placement on the Electronic Book Provider (EBP) platform, and involves the issuance of up to 5,000 NCDs, each with a face value of ₹ 1 lakh. The base size of the issue is ₹ 25 crore, with an option to retain oversubscription of another ₹ 25 crore, taking the total potential raise to ₹ 50 crore. The debentures will carry a coupon rate of 10 percent per annum and have a maturity period of 24 months. Interest payments will be made monthly, and the principal will be redeemed at par at the end of the term. The NCDs are proposed to be listed on the BSE. The tentative date of allotment is May 22, 2025, subject to regulatory approvals. The issue will be secured by a first-ranking pari-passu charge on hypothecated receivables, with a security cover of at least 1.10 times the principal amount outstanding. In the event of any delay in the payment of interest or principal, the company will offer an additional 2 percent per annum coupon as compensation. Paisalo clarified that there are no special rights or privileges attached to the instrument and that the proposal has not been modified or cancelled. The issuance is being made in accordance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Paisalo Digital counts some heavyweight institutional investors among its shareholders. LIC holds 77.6 lakh shares, representing a 1.17 percent stake, which would drop slightly to 1.03 percent assuming full conversion of convertible securities. Meanwhile, SBI Life Insurance owns over 6.21 crore shares, holding a 9.36 percent stake. Post conversion, its stake would stand at 8.26 percent, based on data from the stock exchanges. Despite the positive announcement, Paisalo Digital's stock has been under pressure, shedding 47 percent over the last one year. The stock fell for five consecutive months, including 5.2 percent in April, 8 percent in March, 14.3 percent in February, 13.3 percent in January, and 2.4 percent in December. However, May brought some respite with the stock rising 6 percent month-to-date, signaling a possible trend reversal. Still, it remains over 57 percent below its 52-week high of ₹ 81.95, touched in July 2024. On the upside, it has recovered 17 percent from its 52-week low of ₹ 29.75, hit in April 2025.
Mint
13-05-2025
- Business
- Mint
LIC-owned NBFC stock jumps 4% after fundraise move. Do you own?
Stock market today: LIC-owned non-banking finance company (NBFC) Paisalo Digital jumped over 4% in intraday trade on Tuesday, May 13, following the announcement of the board meeting date to consider raising funds. Paisalo Digital, a small-cap stock below ₹ 50, announced on Monday, post-market trading hours, that its board will meet on May 15, 2025, to consider and approve the fundraising proposal. "... we would like to inform you that meeting of Operations and Finance Committee of the Board of Directors of Paisalo Digital Limited is scheduled to be held on May 15, 2025 to consider and approve the fund raising proposal by way of issuance of Listed, Secured, Non-Convertible Debentures on Private Placement basis," said the company in a filing on Monday.
