Paisalo Digital Limited has informed the Exchange regarding Outcome of Committee Meeting held on May 15, 2025.
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Paisalo Digital Limited's Operations and Finance Committee has approved the issuance of up to 5,000 Non-Convertible Debentures (NCDs) with a face value of Rs. 1,00,000 each, aggregating up to Rs. 50 crores (base issue of Rs. 25 crores plus a green shoe option of Rs. 25 crores). The NCDs will be privately placed through the EBP (Electronic Book Platform) and listed on BSE, with a tentative allotment date of May 22, 2025. The debentures carry a coupon of 10% per annum, payable monthly, and have a 24-month tenure with bullet redemption at par on maturity. They will be secured by a first-ranking pari-passu charge on the company's loan receivables, maintaining a security cover of 1.10 times the outstanding principal amount.
This Rs. 50 crore NCD raise at 10% coupon helps Paisalo Digital expand its lending capital at a reasonable cost, which should support growth in its loan book. For equity shareholders, the dilution risk is nil since these are pure debt instruments, though the company's leverage and interest costs will rise modestly.