300% rally in five years! Small-cap NBFC stock redeems commercial papers worth ₹30 crore

Paisalo Digital share price jumped over 6% on Thursday after the company announced the redemption of commercial papers worth ₹30 crore. The small-cap stock rallied as much as 6.35% to ₹36.46 apiece on the BSE.

The small-cap Non Banking Financial Company (NBFC), Paisalo Digital said it has fully redeemed and repaid Commercial Papers with a maturity amount of ₹30 crore on March 20.

The commercial papers were listed on BSE and had a Maturity Date of March 20. The payment was made on the same date, according to a stock exchange filing on Thursday.

Earlier on March 19, Paisalo Digital’s board of directors approved fundraising via the issuance of Commercial Papers (CP) to the country’s largest lender, State Bank of India (SBI).

The Operations and Finance Committee of the Board of Directors of Paisalo Digital had sanctioned the issuance of CPs totalling up to ₹90 crore on a private placement basis on Wednesday.

It had approved the issuance of 600 listed CPs, each with a face value of ₹5 lakh, amounting to ₹30 crore, to the state-run SBI.

Paisalo Digital Stock Price Trend

Paisalo Digital share price has fallen 14% in one month, and declined 13% in three months. In the past six months, the small-cap stock has dropped 40%, while it has plunged nearly 50% in one year.

However, over the longer term, Paisalo Digital shares have seen a decent rally, with 22% gains in two years, and multibagger returns of nearly 300% in five years.

At 2:10 PM, Paisalo Digital shares were trading 3.56% higher at ₹35.50 apiece on the BSE.

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