Paisalo Digital Issues Foreign Currency Convertible Bonds Upto USD 75 Million At A Floor Price of Rs.45.33

In accordance with applicable ECB guidelines established by the Reserve Bank of India, Paisalo Digital announced that the FCCB Committee of Board of Directors, at its meeting on Thursday, November 28, 2024, approved raising funds through the issuance of 7.5% Secured Foreign Currency Convertible Bonds (FCCBs) up to USD 75 million in one or more tranches with a five-year maturity. The issuance of FCCBs commenced on November 28, 2024 at a coupon rate of 7.5% per annum.

"We further wish to inform you that the 'Relevant Date' for the purpose of issuance of the FCCBs, in terms of Clause 5(4)(ca) of Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme 1993 ("FCCB Scheme"), is 28 November 2024, and accordingly the "floor price" in respect of the aforesaid issuance of FCCBs has been determined, based on the pricing formula as prescribed under Clause 5(4)(ca) of the FCCB Scheme. The floor price is Rs.45.33 per equity share," said Paisalo Digital in a stock exchange filing.

Based on the floor price, the number of equity shares upon conversion would be around 139,759,762 equity shares of Re. 1/-each of the Company, assuming an issue size of up to USD 75 million, or Rs 633.53 crore.

Paisalo Digital recently announced that its net sales for the September 2024 quarter were Rs 175.93 crore, up 35.12% from the September 2023 quarter's Rs 130.21 crore. In Q2FY25, its net profit was Rs. 49.52 crore, up 4.89% from Q2FY24's Rs. 47.21 crore. EBITDA increased 21.08% from Rs. 115.69 crore in the September 2023 quarter to Rs. 140.08 crore in the September 2024 quarter.

Meanwhile, on November 29, 2024, the company appointed Mr. Vinod Kumar as a Director for which the effective date will be announced soon. "With reference to our intimation dated October 30, 2024, regarding appointment of Mr. Vinod Kumar as a Director of the Company w.e.f. December 1, 2024 which was subject to approval/NOC of competent authority, in this regard we wish to inform you that due to delay in receiving necessary approval/NOC from competent authority effective date of appointment of Mr. Vinod Kumar as a Director on the Board of the Company has been deferred and new effective date of his appointment shall be communicated on receipt of required approval/NOC," said Paisalo Digital in a stock exchange filing.

In 1992, Paisalo Digital Ltd. was established. It is a NBFC firm having its main office located in Agra, while its registered office is in Delhi.