Paisalo Digital Limited has secured a new credit rating of BWR AA/Stable from Brickwork Ratings India Private Limited for its proposed Non-Convertible Debentures (NCDs) worth Rs. 1500.00 crores. The company announced this development through a regulatory filing dated March 14, 2026, submitted to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Credit Rating Details

The rating assignment by Brickwork Ratings India Private Limited represents an additional credit assessment for the company's debt instruments. This new rating complements the existing credit rating coverage provided by Infomerics Analytics and Research Private Limited.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing the stock exchanges about this credit rating development. The notification was signed by Manendra Singh, Company Secretary of Paisalo Digital Limited, and submitted to multiple stakeholders including the listing departments of both major Indian stock exchanges.

Market Implications

The BWR AA rating category typically indicates a high degree of safety regarding timely servicing of financial obligations, with very low credit risk. The 'Stable' outlook suggests that the rating is unlikely to change in the near term. This rating assignment provides investors and market participants with an additional independent assessment of the company's creditworthiness for its proposed debt issuance.

Stakeholder Communication

Along with the primary stock exchanges, the company has also copied this information to AFRINEX EXCHANGE LISTING CENTRE, India International Exchange (IFSC) Ltd., Axis Trustee Services Limited, and MITCON Credentia Trusteeship Services Limited, ensuring comprehensive stakeholder awareness of this credit rating development.

Paisalo Digital Limited's Operations and Finance Committee has authorized the issuance of secured non-convertible debentures worth up to Rs 100 crore at an attractive interest rate of 9.25% per annum. The committee approved this significant debt fundraising initiative through private placement on the Electronic Book Building (EBP) platform.

Debenture Issue Structure

The approved debenture issue comprises up to 1,00,000 secured non-convertible debentures, each carrying a face value of Rs 10,000. The issue structure includes a base issue of Rs 50 crore with an option to retain over-subscription through a green shoe option of up to Rs 50 crore, bringing the total issue size to Rs 100 crore.

Terms and Listing Details

The debentures carry a coupon rate of 9.25% per annum with monthly interest payments to investors. The securities have a tenure of 30 months from the date of allotment and will be listed on BSE Limited for trading. The debentures are scheduled for redemption at par value on the maturity date.

Security and Risk Management

The non-convertible debentures will be secured by a first ranking exclusive charge on loan receivables, referred to as "Hypothecated Receivables." The company has committed to maintaining the security value at all times equal to 1.10 times the aggregate amount of principal outstanding of the NCDs, providing additional protection to investors.

In case of delayed payment of interest or principal redemption from the due date, the company will pay an enhanced rate of coupon rate plus 2.00% per annum as penalty interest. This provision ensures timely servicing of the debt obligations and protects investor interests.

Regulatory Compliance

The debenture issuance has been approved in compliance with Regulations 30, 51, and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about the committee's decision and the proposed listing on BSE Limited.