Corporate Development     

Published: November 30, 2024
Updated: November 30, 2024

Paisalo Digital Ltd

Board approves up to US$ 75 Mn fund raise through issue of FCCBs

Paisalo Digital Ltd. (BSE: 532900, NSE: PAISALO), a thriving listed non-deposit taking NBFC registered with the Reserve Bank of India, has announced that its board has approved raising funds by issuance of 7.5 % Secured Foreign Currency Convertible Bonds (FCCBs) up to USD 75 Million in one or more tranches with a maturity of 5 years as per applicable ECB guidelines set forth by the Reserve Bank of India.

Earlier, the company reported earnings for the quarter and half year ended 30 September 2024. Assets Under Management (AUM) stood at Rs. 45,352 Mn, recording a growth of 19% YoY. Revenue jumped 33% YoY to Rs. 3736 Mn. Net worth came in at Rs. 14,181 Mn, growing 14% YoY. PAT was reported at Rs. 914 Mn, growing 6% YoY.

The company further added, “The company continues to protect its margin profile, Interest Income for Q2 FY25 was up 33% at ¹ 3,736 Mn as against ¹ 2,809 Mn in Q2 FY24. The company has posted 6.37% increase in PBT and 6.41% increase in PAT YoY. GNPA and NNPA stood at 0.86% and 0.61% as at Q2 FY25 compared to 0.24% and 0.01% as at Q2 FY24. The Company expects its GNPA and NNPA to stay within the Long-Term outlook of below 2%.” The company continues to optimize its operating expenses and implement GenAI capabilities to improve productivity. Capital Adequacy remained strong at 35.76% at H1 FY 2025. Credit Rating of the company is IVR AA/Stable Outlook (IVR Double A with Stable Outlook) and IVR A1+ (IVR A One Plus) for Commercial Paper.

Adding about the Business Transformation update “Phase 2 is on track; the company continues to invest in team and technology for business transformation and we will be continuing to focus on stabilising Phase 2 of the business transformation for additional two quarters, with continued focused credit underwriting feature set, disciplined execution, rapid adoption in all processes of the company and continued progress on all metrics.”

Paisalo Digital Limited is a non-deposit taking NBFC registered with the Reserve Bank of India. A thriving listed NBFC with a robust distribution network in rural and semiurban areas of India. Having serviced over 42 lakh+ borrowers and 2455 touch points branches across the country, is currently at the forefront of co-lending and a pioneer in seamless credit distribution services and administration of income generation loans.