• Source:JND
Add as a preferred

Paisalo Digital: After soaring over 10% during the intraday trade on Monday, the previous trading session, the shares of LIC-backed Paisalo Digital, a non-banking finance company (NBFC), jumped by more than 4% following the company's announcement regarding the board meeting scheduled to discuss a proposed fundraising agenda. Over two days, the NBFC stock gained over 14%.

In a filing following Monday's market close, the company revealed that the committee will meet on May 15th to examine and approve plans to raise money through the private placement issuance of listed secured non-convertible debentures (NCDS).

Stock Performance

The small-cap stock opened Tuesday's trading session at Rs 34.13, which was close to the closing price of Rs 34.14 the day before. After a kind of flat opening, the stock soared nearly 4% to hit an intraday high at 35.62, a 4.3% gain (till the time of writing). The stock is down 43% in the last 12 months, despite being up 12.33% over the last month.

"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," Paisalo Digital said in a exchnage filling.

Also Read: Stock Market Today: Sensex, Nifty Fall In Early Trade After Sharp Rally In Previous Session

On May 12, Equilibrated Venture Cflow, the company's promoter group entity, announced the release of a pledge on 75,000,000 shares, or 0.83 per cent of the company, as part of the filing momentum. Following this announcement, the promoter group now owns 8,39,09,002 shares in total pledged shares.

 Q4 Result

Meanwhile, for the quarter that ended in March 2025 (Q4 FY25), Paisalo Digital announced impressive financial results. The company's standalone net profit for the quarter was Rs 45 crore, up 25% year-over-year from Rs 36 crore in the same quarter last year.

As of March 2024, LIC, the largest insurance provider in the country, owns a 1.17% stake in the Non-Banking Finance Company.

Also Read: Paytm Share Price: One97 Communications Shares Drop 5% Amid Ant Group Stake Sale Report

Disclaimer: This is just a piece of news about recent developments in the stock. Jagran does not advise investing. Please take expert's opinion before investing.