SBI Life Insurance Company Limited acquires 8.99% stake in Paisalo Digital Ltd

SBI Life Insurance Company Limited has acquired Equity Shares of Paisalo Digital Ltd in ordinary course of business. The purchase transaction of 38,00,000 equity shares (8.99% stake) was undertaken on December 24, 2020 at a price of Rs. 489.99 per share aggregating to Rs. 186.20 Crs. (approx.).

Paisalo Digital Ltd is an NBFC providing loans to individuals, SME & MSME Loans and loans to Joint Liability Group (MFI). The company has 129 branches across country.

Shares of SBI Life Insurance Company Ltd was last trading in BSE at Rs.873.8 as compared to the previous close of Rs. 856.65. The total number of shares traded during the day was 199718 in over 9123 trades.

The stock hit an intraday high of Rs. 879.5 and intraday low of 850.1. The net turnover during the day was Rs. 174352779.

Shares of Paisalo Digital Ltd was last trading in BSE at Rs.521.3 as compared to the previous close of Rs. 517.9. The total number of shares traded during the day was 25462 in over 1838 trades.

The stock hit an intraday high of Rs. 530 and intraday low of 473.6. The net turnover during the day was Rs. 12541611.

Source : Equity Bulls

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