LIC-owned NBFC stock jumps over 5% after redemption of commercial papers worth ₹30 crore

An LIC-owned small-cap NBFC stock jumped over 5 per cent in intraday trade on the BSE on Tuesday, September 23, despite weak market sentiment after the company said it had fully redeemed and repaid commercial papers worth ₹30 crore. The stock in focus is Paisalo Digital. Paisalo Digital share price opened at ₹39.48 against its previous close of ₹38.52 and jumped 5.50 per cent to an intraday high of ₹40.64. Around 1:30 pm, the stock traded 3.76 per cent higher at ₹39.97. Equity benchmark Sensex was flat at 82,149 at that time.

In an exchange filing on September 23, the company said it had fully redeemed and repaid the commercial papers with a maturity amount of ₹30,00,00,000. The maturity date of the commercial papers was September 23, and the company made the payment on the same day.

Paisalo Digital share price trend

Paisalo Digital shares have declined over 19 per cent this year so far, while over the last year, the stock has fallen nearly 35 per cent.

The small-cap NBFC stock hit a 52-week high of ₹63.52 on December 6 last year, followed by a 52-week low of ₹29.40 on June 20 this year.

On March 20 of last year, the company issued a 1:1 bonus share issue. This means that for every share an existing shareholder owned, they received one additional share.

Paisalo Digital shareholding pattern

According to the June quarter shareholding pattern data, domestic institutional investors (DIIs), which included mutual funds and insurance companies, cumulatively held 7,17,11,476 shares, or 10.34 per cent of total voting rights, in Paisalo Digital.

LIC held 77,59,511 shares, equivalent to 1.12 per cent of the total voting right. SBI Life Insurance held 6,21,14,267 shares, or 8.96 per cent, of the total voting right.

Among the foreign portfolio investors (FPIs), who cumulatively held 5,60,71,675 shares, or 8.09 per cent stake, Vanguard Total International Stock Index Fund held 74,22,404 shares, or 1.07 per cent stake.

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