Moneyboxx Finance Limited , a non-banking financial company (NBFC), has achieved remarkable recognition at the League of American Communications Professionals (LACP) 2023 Spotlight Awards. The company's Integrated Annual Report for FY23 has not only won Gold Awards in two categories but also secured a place in the global Top 40 rankings.

Award-Winning Performance

Moneyboxx Finance's Integrated Report demonstrated exceptional quality, earning an impressive score of 98 out of 100. This outstanding performance placed the company among the top contenders in a highly competitive field, with entries from nearly twenty countries across four continents.

Key Highlights

Sustained Excellence

This year's achievement marks the second consecutive year that Moneyboxx Finance has been recognized for its reporting excellence. The company's consistent performance underscores its commitment to transparency and quality in financial reporting.

Industry Impact

The LACP Spotlight Awards are widely regarded in the corporate communications field. Moneyboxx Finance's success in this global arena not only highlights the company's dedication to clear and comprehensive reporting but also sets a benchmark for other NBFCs and financial institutions in India.

As the financial sector continues to evolve, Moneyboxx Finance's commitment to excellence in reporting and transparency could potentially strengthen investor confidence and set new standards for corporate communication in the industry.

Moneyboxx Finance Limited has announced a significant capital raise, a proposed bonus share issue, and reported on its fund utilization from a preferential issue, signaling strong growth and investor confidence in the company's future.

Capital Raise and Financial Performance

Moneyboxx Finance has successfully raised INR 478.00 crore in term debt since January, demonstrating its robust fundraising capabilities. The debt has been sourced from various avenues:

This diverse funding mix highlights the company's strong relationships with lending institutions, including 11 banks and 19 financial entities.

The company has shown remarkable improvement in its asset quality. The Gross Non-Performing Asset (GNPA) ratio has significantly decreased from 7.28% to 3.26%. This improvement is attributed to an Asset Reconstruction Company (ARC) transaction and enhanced collection efforts.

As of September 30, Moneyboxx Finance reported:

• Capital to Risk-weighted Assets Ratio (CRAR): 27.1%
• Net Worth: INR 262.00 crore
• Debt-to-Equity Ratio: 2.41
• Liquidity: INR 97.00 crore

These figures indicate a strong capital position and healthy financial metrics.

Proposed Bonus Share Issue

Moneyboxx Finance's Board of Directors has recommended a bonus share issue, subject to shareholder approval. The key details of the proposed bonus issue are:

• Ratio: 1:1 (One new fully paid-up equity share for every one existing fully paid-up equity share)
• Face Value: INR 10.00 per share
• Capitalization Amount: Up to INR 37,50,27,450.00 from the Securities Premium Account

The bonus shares, once issued, will rank pari-passu with the existing equity shares in all respects.

Impact on Convertible Securities

The company has 37,37,745 outstanding convertible warrants and 10,60,400 employee stock options. Holders of these securities may be eligible for the bonus issue, subject to conversion or exercise of their respective instruments by the record date.

Preferential Issue Fund Utilization

Moneyboxx Finance has submitted its monitoring agency report for the quarter ended September 30, detailing the utilization of funds raised through its preferential issue:

• Total funds raised: INR 175.80 crore (revised down from the original INR 271.48 crore due to undersubscription)
• Allocation:
  • Onward lending purposes: INR 165.80 crore
  • General corporate purposes: INR 10.00 crore
• Utilization as of quarter end:
  • Lending purposes: INR 89.02 crore
  • General corporate purposes: INR 2.06 crore
  • Unutilized: INR 84.72 crore

The monitoring agency, Crisil Ratings Limited, reported no deviation from the stated objects of the issue.

Future Outlook

Moneyboxx Finance has indicated a strong pipeline for future funding, with debt discussions exceeding INR 500.00 crore. This suggests continued growth momentum and expansion plans for the company.

The proposed bonus issue and robust capital raise demonstrate Moneyboxx Finance's commitment to rewarding shareholders while maintaining a strong financial position for future growth.

Shareholders are advised to await further details on the record date and other specifics of the bonus issue, which will be communicated in due course.

It's worth noting that the company issued warrants at INR 302.20 per share, while the current market price stands at INR 167.56 as of October 24, indicating a potential risk of non-exercise of conversion rights. Warrant holders have 18 months from the allotment date to convert warrants into equity shares.