Small-cap stock under ₹50: LIC-owned NBFC sets board meeting date to consider raising funds

Small-cap stock under ₹50: The board of directors for Paisalo Digital is set to meet on Tuesday, April 08, 2025, to discuss the possibility of raising capital through the issuance of equity shares and/or other eligible securities via allowable methods, as per an exchange filing by the company.

Paisalo Digital share price was trading over 3% lower in Friday's trading session amid a broader stock market selloff. The stock touched an intraday low of ₹33.92 apiece on the BSE and an intraday high of ₹35.56 per share.

According to the shareholding pattern for public shareholders on the BSE for the quarter ended December 2024, Life Insurance Corporation (LIC) owns 1.35% of the NBFC, while SBI Life Insurance has a 9.87% stake in the firm.

According to the filing, the NBFC firm announced in January that it has assisted over 5.9 million customers by conducting transactions exceeding ₹3,400 crore. This accomplishment has been realised within a span of two years, thanks to its extensive network of business correspondents and collaborations with major banking partners, such as the State Bank of India (SBI) and Bank of India, stated Paisalo Digital.

It reflects the company's dedication to financial inclusion by utilising technology and strong partnerships with leading financial institutions to offer convenient banking services to India's underserved population, the statement added.

Paisalo Digital share price: Technical view

Anshul Jain, Head of Research at Lakshmishree Investment and Securities, stated that Paisalo Digital share price peaked with a buying climax at 99 and has been in a steady downtrend for 56 weeks, shedding 68% from its highs.

“While incremental selling pressure has reduced, there are no signs of institutional accumulation, indicating a lack of strong buying interest. Given this, the downtrend is likely to persist, with a probable downside target of 27. Any short-term bounces may be weak unless backed by significant volume expansion, making further declines the more probable scenario,” Jain added.

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