Paisalo Digital jumps 20% to ₹70.92 as promoters raise stake
Business
Paisalo Digital's stock shot up 20% on Wednesday, hitting ₹70.92, its highest in a year, after the company revealed its promoters increased their stake by nearly 5% this quarter.
Their shareholding now stands at 46.72%, signaling strong faith in Paisalo's growth plans.
Paisalo Digital leans on AI lending
Paisalo wants to double its assets, income, and profits in three years, leaning on AI-powered lending and a network of 5,299 touchpoints across India.
The company mainly gives small loans to underserved people in semiurban and rural areas, a focus that's helped the stock gain 95% this year alone.
Key investors include SBI Life Insurance (6.83%), foreign players (17.5%), and retail investors (10.7%), while Indian mutual funds are still sitting this one out.