Small-cap stock below ₹100: Non-banking financial company (NBFC) Paisalo Digital on Monday, December 23, announced its board of directors approved the raising of funds by preferential issue of convertible equity warrants to some non-promoter entities. However, the announcement failed to impress investors as the stock traded with losses in an otherwise positive market.
Paisalo Digital share price opened at ₹59.36 against its previous close of ₹58.09 and cracked as much as 6 per cent to the level of ₹54.66. The NBFC small-cap stock closed 4.84 per cent down at ₹55.28 apiece on BSE.
Paisalo Digital fundraising news
In an exchange filing during market hours on Monday, December 23, Paisalo Digital announced the fundraising of ₹258 crore by the issuance of preferential convertible equity warrants.
“The board of directors approved issuance and allotment of up to 4,43,56,756 convertible equity warrants by way of preferential allotment on a private placement basis to non‐promoters,” said the company.
The company is offering warrants at an issue price of ₹58.20 per warrant, which is higher than the floor price and is payable in cash for an amount of ₹2,58,15,63,200.
To get approval from its shareholders, the company said it will hold its first extraordinary general meeting (EGM) for the financial year 2024-25 on Wednesday, January 22, 2025.
The company has fixed Wednesday, January 15, 2025, as the cut-off date for determining the eligibility of the members entitled to vote by remote e-voting at the ensuing EGM of the company on January 22.
Paisalo Digital share price trend
The stock has gained nearly 20 per cent this year so far. It hit a 52-week high of ₹99.63 on March 1 and a 52-week low of ₹40.40 on October 25 this year.
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