Delhi-based venture capital fund raises stake in Paisalo Digital. Details here | Stock Market News
Stock market news: Paisalo Digital’s promoter group entity, a venture capital fund, has raised its stake in the company.
According to a stock exchange filing, Equilibrated Venture Cflow, a Delhi-based venture capital fund and a promoter group firm of the non-banking financial company, has bought a little over 7.39 lakh equity shares, translating to a 0.0823% stake in Paisalo Digital.
The institutional investor Equilibrated Venture Cflow has increased its stake in Paisalo Digital to 15.3089% from 15.2266% earlier.
It now holds a total of 13,74,80,779 equity shares of Paisalo Digital as against 13,67,41,667 shares held earlier.
According to Paisalo Digital’s shareholding pattern at the end of September 2024, promoters held a 52.38% stake in the company, while public shareholders held a 47.62% stake.
Paisalo Digital Fundraise
Paisalo Digital on December 6 announced that it raised the first tranche of $50 million through the issuance of secured foreign currency convertible bonds (FCCBs).
This is the first event of FCCB issuance from Paisalo Digital Ltd, and it will be executed following applicable external commercial borrowing (ECB) guidelines prescribed by the Reserve Bank of India (RBI), the NBFC said in a release.
The company aims to raise up to $75 million through FCCBs in one or more tranches. The FCCBs will be issued at a coupon rate of 7.5% and have a maturity period of 5 years (due in 2029).
The issuance of FCCBs aims to fortify the company’s capital base and borrowing profile and support its ongoing business initiatives.
At 3:05 PM, Paisalo Digital shares were trading 1.54% lower at ₹60.91 apiece on the BSE. The market capitalisation of the company was more than ₹5,470 crore.
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