1:1 Bonus Issue: Trading Below Rs 100, NBFC To Consider Fundraising On April 12, Q4 Disbursement Up 38%

Paisalo Digital, an NBFC, has announced key business performance for the last quarter of FY24 (Q4FY24). Under this, the NBFC intimated about its bonus issue allotment, while it reported 38% growth in loan disbursements during the quarter. Apart from this, this NBFC has proposed fundraising which will be considered in a board meeting scheduled on April 12.

On Tuesday, Paisalo Digital reported that its assets under management (AUM) grew by 32% to approximately Rs 4,622 crore as of 31 March 2024 as compared to Rs 3,492 crore as of March 31, 2023.

Meanwhile, its loan disbursements grew by 38% to approximately Rs 3,588 crore as of 31 March 2024 as compared to Rs 2,599 crore as of March 31 2023.

Moreover, Paisalo Digital further reported a whopping 100% growth in co-lending loan disbursements to approximately Rs 1,128 crore as of 31 March 2024 as compared to INR 564 crores as of March 31, 2023.

In terms of customer base, its franchise surged to a massive 4.29 million compared to 1.50 million by the end of FY23. Also, its geographical footprint more than doubled to 2,455 touch points as of 31 March 2024 as compared to 1,052 touch points as of March 31 2023.

Paisalo Digital also said that in FY24, the company allotted bonus equity shares to the existing shareholders of the company holding shares at the closing of business hours on the Record Date i.e. March 20, 2024, in the ratio of 1:1.

It needs to be noted that this informations are provisional and the the official announcement of the financial results for the quarter and financial year ended March 31, 2024, and is subject to review and approval
by the Audit Committee, Board of Directors, and Statutory Auditors of the Company.

Last month, Paisalo turned ex-bonus on March 20th for its bonus issue in the ratio of 1:1. This means that the company allotted one new bonus Equity Share of Re. 1 each for every existing Equity Share of Re. 1 each held by the shareholders of the Company as of the Record Date.

Apart from this, Paisalo Digital is also looking for fundraising via market-related instruments.

In its regulatory filing on April 8th, Paisalo announced that "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 April 12, 2024, to consider and approve allotment of NCDs through Private Placement basis."

On BSE, Paisalo's share price grew as much 5% to hit near its upper circuit levels to Rs 86.50 apiece. However, the stock price ended at Rs 82.69 apiece, up by 2.5% with market cap of Rs 7,425.93 on April 9th.

Paisalo Digital Limited leverages Artificial Intelligence and Machine Learning to offer intelligent and hassle-free loans through a high-tech: Touch approach. The company is at the forefront of co-lending and are pioneer in seamless credit distribution services to the bottom of the pyramid by administration of small-ticket loans, as per its LinkedIn profile.