Small-cap NBFC stock under ₹50: Paisalo Digital announces ₹100 crore fundraise via debentures with green shoe option
Small-cap NBFC stock under ₹50: Paisalo Digita aims to raise ₹100 crore via 9.25% non-convertible debentures. The stock has dropped sharply, with a 63% loss over two years.
Small-cap stock under ₹50: Non-banking finance company (NBFC), Paisalo Digital, announced on Wednesday, March 11, that its board has approved the issuance of debentures to raise ₹100 crore.
The issue consists of a base offer of ₹50 crore and the scope of the green shoe option of another ₹50 crore in the case of oversubscription. The coupon rate on the debenture is 9.25% and is non-convertible in nature.
Paisalo Digital fundraise details
Paisalo Digital said that its board has approved the issuance of 9.25 % non-convertible debentures (NCDs) on a private placement basis through the EBP platform.
The company will issue up to 1 lakh NCDs, each having a face value of ₹10,000, aggregating to ₹100 crore. The company further added that the NCD issue is inclusive of the base issue of ₹500 crore, with an option to retain over subscription (green shoe option) of another ₹500 crore.
The debentures are proposed to be listed on the BSE and have a tenure of 30 months. The NCDs will be allotted by the company on March 18, with redemption at the end of 30 months from the date of allotment.
The coupon or interest on these NCDs is payable monthly.
Paisalo Digital Q3 results
For the third quarter of the ongoing financial year, Paisalo Digital had posted a steady growth in its profit and revenue, while NPAs had moderated. The small-cap NBFC's PAT came in at ₹66.3 crore, a growth of 6% year-on-year, while the total income saw an 18% increase to ₹240 crore.
The total assets under management (AUM) jumped 16% YoY to ₹5508.2 crore. Its gross NPA came in at 0.83% as against 1.10% a year ago, and net NPA was at 0.66% versus 0.84% YoY.
Paisalo Digital share price trend
Shares of Paisalo Digital, part of SBI Life's portfolio, have remained under pressure in the last two years. According to BSE data, the small-cap NBFC stock under ₹50 has lost 11% year-to-date (YTD), 15% in six months, 10% in a year and 63% in two years.
Paisalo Digital share price ended 1.58% down on the BSE today, March 11, at ₹32.45 amid a sharp decline in the Indian stock market's benchmark indices due to the Middle East conflict.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
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