Small Cap NBFC Stock Okays Share Allotment On 2000 Foreign Currency Convertible Bonds Conversion

At Rs 45.51 in the afternoon, the shares of the small-cap NBFC company Paisalo Digital Ltd were up 2.75% on the BSE. The company's market capitalisation exceeds Rs 4,000 Cr.
The allocation of 37,35,274 equity shares with a face value of Re. 1/-each upon conversion of 2000 Foreign Currency Convertible Bonds (FCCBs) was approved by the FCCB Committee of the Paisalo Digital Limited Board of Directors on January 15, 2025.

As a result of the aforementioned equity share allocation, the company's fully paid-up equity capital has grown from Rs. 89,80,43,980/-, which consisted of 89,80,43,980 Equity Shares of Re. 1/- each, to Rs. 90,17,79,254/-, which consisted of 90,17,79,254 Equity Shares of Re. 1/- each.

A major accomplishment was announced last week on January 8th by Paisalo Digital Limited, a leading Non-Banking Financial Company (NBFC). With its robust network of business correspondents and partnerships with major banking partners like State Bank of India (SBI) and Bank of India (BOI), the company served over 59 lakh customers and initiated transactions totalling over Rs 3,400 crores in just two years.

The promoters of Paisalo Digital have acquired 45,19,710 shares through September 2024, increasing their shareholding to 52.38% from 51.66%, according to the most recent quarterly filings. At its meeting on July 25, 2024, the Paisalo Digital Board authorised an increase in the authorised share capital from Rs 125 crore, which included 120 crore equity shares of Re 1 each and 50 lakh preference shares of Re 10 each, to Rs 180 crore, which included 175 crore equity shares of Re 1 each and 50 lakh equity shares of Rs 10 each.

In the September 2024 quarter, the company's net sales were Rs 175.93 crore, rising 35.12% from the September 2023 quarter's net sales of Rs 130.21 crore. Its net profit increased by 4.89% from Rs. 47.21 crore in Q2FY24 to Rs. 49.52 crore in Q2FY25. In September 2024, EBITDA was Rs. 140.08 crore, growing 21.08% from Rs. 115.69 crore in the same month the previous year.

Paisalo Digital Limited is a Reserve Bank of India-registered NBFC that is listed and has a strong distribution network in India's rural and semi-urban areas. With more than 65 lakh consumers and 3275 contact points in 22 states, Paisalo is a leader in credit distribution services.