Paisalo Digital to Mull Fundraising on July 25

Paisalo Digital has announced that its board will meet on Thursday, July 25, 2024, to explore raising cash, subject to any relevant approvals.

Key Takeaways from Paisalo Digital Fundraising

• Paisalo Digital has announced that its board will meet on July 25, to raise funds.
• The fund will be raised through the issuance of convertible or non-convertible equity shares and/or other eligible instruments through authorized channels, such as private placements, preferential issues, or any other technique or combination of techniques.

The company may raise capital through the issuance of convertible or non-convertible equity shares and/or other eligible instruments through authorized channels, such as private placements, preferential issues, or any other technique or combination of techniques.

In Q4 FY24 compared to Q4 FY23, Paisalo Digital reported a 77.2% increase in consolidated net profit to Rs 36.61 crore, with a 65.9% increase in total income to Rs 195.77 crore.

About Paisalo Digital Limited

Paisalo Digital Limited, formerly known as SE Investments Limited (SEIL), began commercial vehicle financing in Uttar Pradesh as a Private Limited Company. The company, established in 1992, is a Systemically Important Non-Deposit Taking Non-Banking Financial Company that provides loans.

It primarily focuses on funding self-employed borrowers, a market that is still underserved despite increased prosperity, aspirations, and favorable demographics. The organization operates in three divisions: Financial Services, Microcredit, and Alternate Energy. 

The Financial Services branch provides hire-purchase and lease services for motor vehicles, as well as personal loans, business loans, and property loans to individuals and corporations. This section also offers fixed deposit and safe deposit locker services. 

The Microcredit division provides loans to low-income people. This division offers income-generating loans, loans to rickshaw pullers, Islamic Microcredit, and microfinance housing. 

The Alternate Energy division owns and runs two wind energy producing units: a 2.4 MW unit in Vani Vilas Sagar, Chitradurga, Karnataka, and a 0.8 MW unit in Bhu/Kita, Jaisalmer, Rajasthan.

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