Paisalo Digital surged 18.68% to Rs 618.70 after SBI Life Insurance Company bought 8.98% stake in the company via bulk deal on Thursday.
As per the bulk deal data on the NSE, SBI Life Insurance Company on Thursday (24 December 2020) bought 38,00,000 shares (8.98% of equity) of Paisalo Digital at average price of Rs 490 per share.Meanwhile, Antara India Evergreen Fund (sold 3.54%), Davos International Fund (sold 0.68%), Elara India Opportunities Fund (sold 2.6%) and Heshika Growth Fund (sold 1.89%) pared their stake in the company at average price of Rs 490.
Paisalo Digital is a non-banking finance company NBFC providing loans to individuals, micro, small and medium enterprises, and to Joint Liability Group (MFI). It has 129 branches across the country.
On a consolidated basis, the company's net profit gained 9.5% to Rs 21.95 crore on a 13.9% fall in net sales to Rs 79.85 crore in Q2 September 2020 over Q2 September 2019.
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