Paisalo Digital Places $48 Million FCCBs With Mauritius-Based Exchange; Anand Rathi Sees Upside

An NBFC Paisalo Digital Limited has successfully placed their $48 million Foreign Currency Convertible Bonds FCCB on the Mauritius-based AFRINEX Exchange. The company made this announcement through a stock exchange filing on Tuesday, March 25, 2025.

In an official filing, Paisalo Digital said, "This is to inform that $48 Million 7.5 percent Foreign Currency Convertible Bonds (FCCBs) due 2029 of the company (ISIN-XS2952463086) has been listed on the AFRINEX Securities List "ASL" of AFRINEX Limited w.e.f. March 24, 2025."

The listing on AFRINEX increases the demand for international capital markets, which, in return, will support the company when it comes to expansion while improving financial stability. The move seems to enhance the global financial presence of the company while investors expect positive growth from the company.

Furthermore, Paisalo Digital has also announced the complete redemption and repayment of Rs 30 Crore Commercial Paper (scrip code 728481, ISIN INE420C14144) that was due on March 20, 2025. The CP was listed on BSE Ltd.

"No Update Required" is the instruction provided to the assistant in order not to alter any document.

In the past two years, Paisalo has transacted more than Rs 3,400 crore, demonstrating their deep engagement in financial inclusion. Owing to its business correspondent model, it has been able to provide financial services in many unserved geographies due to its alliance with banks like SBI and Bank of India. Its technology-focused approach, along with strong customer orientation, has further deepened its market penetration into the rural and semi-urban areas.

As of last Wednesday, the stocks of Paisalo Digital were trading at Rs 32.94 per share and their 52-week high and low are Rs 86.90 and Rs 32.88, respectively, revealing changes in market demand and supply and people's perception towards the stock. Jigar Patel of Anand Rathi suggests buying the stock for a target price of Rs 50.

These factors, such as successful bond listing, strong financial performance, and wider market coverage, brought and highlighted Paisalo Digital's steady growth in the financial services sector.