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Business News/ Markets / Stock Markets/  Paisalo Digital shares jump 15% on this IREDA trigger. Details here

Paisalo Digital shares jump 15% on this IREDA trigger. Details here

Paisalo Digital has informed Indian stock market bourses about receipt of ₹200 crore from IREDA for onward lending to E-Mobility Sector

Stock market today: This multibagger stock has surged around 97% in year-to-date time. (Photo: Bloomberg)Premium
Stock market today: This multibagger stock has surged around 97% in year-to-date time. (Photo: Bloomberg)

Stock market today: Amid high volatility in the Indian stock market, Paisalo Digital shares witnessed strong buying interest on Thursday. The NBFC stock today opened upside and went on to touch an intraday high of 183 apiece on the NSE, logging around a 15 percent intraday rise. While climbing to this intraday high, Paisalo Digital share price went on to touch its lifetime high as well. This was the second time when Paisalo Digital shares touched a new high this week. On Tuesday, Paisalo Digital share price touched a new peak of 175 apiece on BSE.

Paisalo Digital news

In one of its recent exchange filings, Paisalo Digital Ltd informed Indian stock market exchanges about the 20.40 crore payment receipt from the Indian Renewable Energy Development Agency (IREDA) saying, "This is to inform you that Company has received sanction and disbursement of Rs. 2,00,00,00,000/- (Rupees Two Hundred Crores) from Indian Renewable Energy Development Agency Limited (NSE: IREDA) for onward lending to E-Mobility Sector. The company is committed to being part of IREDA’s vision to promote the E-Vehicle Sector for the reduction of carbon footprint and help to reduce the fossil fuel bill of Bharat."

Also Read: Vodafone Idea share price crash takes a pause after 22% dip in three days

The NBFC also declared fundraising through the private placement saying, "Pursuant to Regulation 30 and other applicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Operations and Finance Committee of Board of Directors of Paisalo Digital Limited vide their resolution dated February 27, 2024 has, inter alia: 1] Approved the allotment of 2034 (Two Thousand and Thirty Four) Secured Rated Listed Redeemable Non Convertible Debentures each having face value of 1,00,000/- (Rupees One Lakh) aggregating of Rs. 20,34,00,000/- (Rupees Twenty Crores and Thirty Four Lakhs only) through Private Placement basis; and 2] Approved the part redemption, by opting call option, of Unsecured Unlisted Redeemable Non Convertible Debentures (Series- PDL-09-2-2021) having aggregate value of 9 crore, issued on September 27, 2021 (actual maturity date September 26, 2026)."

Paisalo Digital share news

Paisalo Digital shares have almost doubled shareholders' money in YTD. In 2024, Paisalo Digital share price has ascended from 92.90 to 183 apiece level on NSE, logging around a 97 percent rise in the current year. In the last six months, this NBFC stock has given multibagger returns to its positional investors.

The multibagger stock has given around 185 percent return to its shareholders in this time. In the last one year, this multibagger NBFC stock has shot up to the tune of 210 percent. However, in the last five years, Paisalo Digital shares have risen to the tune of over 500 percent.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 29 Feb 2024, 03:10 PM IST
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