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Awaiting price reaction for this filing.
Emerald Finance Limited has allotted 7,65,090 equity shares on a preferential basis at ₹131 per share (including a premium of ₹121), raising approximately ₹10 Crore. This increases the company's equity capital from ₹33.78 Cr to ₹34.54 Cr. Investors include promoters (1,14,500 shares), Saint Capital Fund (Mauritius), Mr Rajesh Jain (founding partner, KPMG India & Africa), and Mr Vishnu Sultania (UN advisor and former CFO). The company is a Chandigarh-based NBFC focused on retail/MSME lending and its digital Earned Wage Access (EWA) product. For FY24, it reported consolidated Total Income of ₹13.36 Cr, EBITDA of ₹7.06 Cr, and PAT of ₹4.14 Cr.
The capital infusion strengthens the company's balance sheet and funds expansion in MSME/retail lending and the digital EWA product. Increased promoter stake and participation by marquee investors signal confidence in growth prospects, though the small size of the raise limits immediate valuation impact. Watch for execution of the EWA expansion plan in coming quarters.