Paisalo Digital Limited has commenced its public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs), aiming to raise up to ₹30,000 lakh through Tranche I. This issuance falls within the company’s approved shelf limit of ₹90,000 lakh and is designed to fund its lending operations by leveraging its loan receivables as security. The move allows the fintech lender to access long-term capital at defined interest rates, supporting its growth trajectory in the digital lending sector.

The Board of Directors initially approved the shelf issuance on May 10, 2026, followed by the Operations and Finance Committee’s approval of the Shelf Prospectus and Tranche I Prospectus on July 31, 2026. These documents were filed with the Registrar of Companies, NCT of Delhi – I at South Delhi, BSE Limited, and the Securities and Exchange Board of India (SEBI). The intimation was issued pursuant to Regulations 30 and 51 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Issue Structure and Timeline

The base issue size stands at ₹15,000 lakh, with an option to retain oversubscription of up to ₹15,000 lakh, bringing the total potential raise to ₹30,000 lakh. Each debenture carries a face value of ₹1,000. Investors can apply for a minimum of ₹10,000 (10 NCDs) and in multiples of ₹1,000 thereafter.

The issue remains open for subscription on working days from 10:00 a.m. to 5:00 p.m. Indian Standard Time. On the closing date, applications will be accepted until 3:00 p.m., with uploads permitted until 5:00 p.m. The company may close the issue earlier or extend it, subject to regulatory limits and board approvals.

Coupon Rates and Tenors

Paisalo Digital has structured the NCDs into six series, offering varying tenors and coupon rates to cater to different investor preferences. The coupons range from 9.00% per annum for the shortest tenor to 10.47% per annum for the longest. Interest payments are made either monthly or annually, depending on the series chosen.

Series VI is allocated to applications where no specific series choice is indicated.

Security and Listing

The NCDs are secured by an exclusive charge via hypothecation created on the company’s loan receivables. Paisalo Digital must maintain a security cover of at least 1.10 times the entire secured obligations throughout the tenure of the NCDs. The security will be created upfront before listing applications and perfected within 30 days of creation. Upon allotment, the debentures will be listed on BSE Limited, which serves as the designated stock exchange.

What the Numbers Show

The pricing structure reflects a clear risk-return gradient, with longer tenors commanding higher coupons. Series VI, the default allocation for unspecified choices, offers the highest coupon at 10.47% per annum for a 60-month tenor, indicating the company’s cost of capital for its longest-term liabilities. The effective yields are slightly higher than the stated coupons for monthly payment series due to compounding effects, while annual series show negligible differences. This structure suggests Paisalo Digital is actively managing its liability maturity profile, balancing immediate funding needs with long-term stability.

Paisalo Digital has redeemed 25 unlisted, unsecured Non-Convertible Debentures (NCDs) with a total face value of ₹25 crore on July 29, 2026. The company executed the redemption at par through full and final payment, adhering to the specific terms outlined in the original issue documents for Series PDL-07-2021. This transaction reduces the company’s outstanding debt burden by the specified amount.

The disclosure was made to the Bombay Stock Exchange and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. Manendra Singh, Company Secretary, signed the communication confirming the completion of the redemption process on the record date.

Redemption Details

The redeemed instruments were part of Series PDL-07-2021 and carried an interest rate of 12%. Each debenture had a face value of ₹1,00,00,000. The total principal amount settled was ₹25 crore.

The scrip codes associated with these instruments include Equity-532900 and various NCD codes such as 975107, 975202, 975251, 975329, 975437, 975640, 975865, 976752, 977004, 977097, 977278, 977279, 977358, and 977643. Additionally, Corporate Bond (CP) codes 731429, 731434, 731455, 731624, and 732088 were referenced in the filing.

Financial Implications

The redemption at par indicates that Paisalo Digital met its liability without any premium or discount adjustment relative to the face value. By settling these obligations, the company improves its balance sheet structure by removing high-interest debt from its capital composition. The 12% coupon rate is notably higher than prevailing market rates for similar tenors, suggesting that this redemption contributes to potential future interest cost savings if the debt is not replaced with similarly priced instruments.