Small-cap stock under ₹50: Paisalo Digital, a small-cap non-banking finance company (NBFC), wherein India’s biggest insurer — Life Insurance Corporation of India (LIC) — holds a stake, announced raising funds via allotment of commercial papers (CPs) to the State Bank of India (SBI) on Wednesday, July 3.
The commercial papers were allotted today on a private placement basis to SBI and will be redeemed on September 4, following a 63-day tenure. According to the filing on the exchanges, Paisalo Digital allotted 600 commercial papers to SBI, having a face value of ₹5 lakh each. These CPs have a yield of 11%.
The issue price of each commercial paper is at ₹4,90,683.50 apiece, a discount to the face value, resulting in a total issue value of ₹29.44 crore. On redemption, SBI will receive ₹30 crore from Paisalo Digital.
IDBI Bank is acting as an intermediary to ensure that issuance and payment are done smoothly.
As of the March 2025 quarter, LIC held a 1.17% stake in Paisalo Digital. Meanwhile, another insurer — SBI Life Insurance Company owned a 9.36% stake.
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