PAISALO DIGITAL LIMITED NCD

Non-banking financial company(NBFC)| Rs. 10,000 Min Investment

Issue Opening Date
Friday, August 07, 2026
Issue Closing Date
Thursday, August 20, 2026*
Credit Ratings
“AA/STABLE by Infomerics & Brickwork"
Issue Size (Net)
up to Rs. 300 crores
PAISALO DIGITAL LIMITED NCD ClosedOpen
Non-banking financial company(NBFC)

Rs. 10,000

Min. investment
Invest Now
Company Highlights Term Sheet ROI Financial Hightlight Prospectus

1. Company Information

Paisalo Digital Limited is a Reserve Bank of India-registered non-banking financial company (NBFC) focused on providing retail and MSME credit solutions across India. Incorporated in 1992, the company has evolved into a technology-driven lender offering income generation loans, business loans, vehicle financing, and other financial products through a widespread distribution network and strategic partnerships. Paisalo leverages digital processes, co-lending arrangements with banks, and data-driven credit assessment to improve financial inclusion, particularly in underserved regions. The company aims to deliver accessible, affordable, and responsible lending while maintaining prudent risk management and sustainable long-term growth.

Company Strengths

1. Extensive Pan-India Distribution Network - The company has a strong physical and digital presence with 5,299 touchpoints, including 422 branches, 3,381 distribution points, and 1,496 business correspondents across 22 states and union territories, enabling deep customer reach and efficient service delivery.

2. Technology-Driven Lending Platform - Paisalo leverages a robust digital platform featuring Aadhaar-based e-KYC, e-sign, real-time loan tracking, account aggregator-based underwriting, and multiple digital repayment options such as UPI, QR codes, and NACH, improving operational efficiency and customer experience.

3. Strong Co-Lending Partnerships with Banks - The company is among the market leaders in priority sector co-lending and has strategic partnerships with five public sector banks, enabling lower funding costs, shared credit risk, and enhanced lending capacity.

4. Prudent Underwriting and Secured Loan Portfolion - Paisalo follows a comprehensive underwriting framework combining field verification, alternative data, geo-spatial mapping, and business rule engines. As of March 31, 2026, 93.94% of its loan portfolio was secured, supporting asset quality.

5. Strong Focus on Financial Inclusion - The company serves underserved and first-time borrowers through diversified Micro Enterprise and MSME loan products. It caters to around 160 lakh customers, with a significant focus on women borrowers and small businesses, strengthening its position in inclusive lending.

2. Rating:

"AA/STABLE by Infomerics & Brickwork”

3. Alankit Assignments Limited

https://www.alankit.com/

Alankit House, 4E/2
Jhandewalan Extension,New Delhi-110 055 011 4254 1193
rta@alankit.com

PAISALO DIGITAL LIMITED Details

Type of instrument/ Name of the security: Secured, Rated, Listed, Redeemable, Non-Convertible Debentures
Depositories: NSDL and CDSL
Registrar to the Issue: Alankit Assignments Limited
Issue Opening Date: Friday, August 07, 2026
Issue Closing Date: Thursday, August 20, 2026*
Base Issue Size: Rs. 150 crores
Green Shoe Option: Rs. 150 crores
Tranche I Issue: up to Rs. 300 crores
Credit Rating: “AA/STABLE by Infomerics & Brickwork”
Minimum Subscription: Minimum subscription is 75% of the Base Issue i.e. ₹ 11,250 lakhs
Interest type: Fixed
Minimum Application size and in multiples of NCD thereafter: ₹ 10,000 (10 NCDs) and in multiple of ₹ 1,000 (1 NCD) thereafter.
Listing: The NCDs are proposed to be listed on BSE. The NCDs shall be listed within 3 (three) Working Days from the Issue Closing Date. BSE has been appointed as the Designated Stock Exchange.
Description regarding security (where applicable) including type of security (movable/ immovable/ tangible etc.) type of charge (pledge/ hypothecation/ mortgage etc.), date of creation of security/ likely date of creation of security, minimum security cover, revaluation, replacement of security, interest of the NCD holder over and above the coupon rate as specified in the Debenture Trust Deed and disclosed this Prospectus: The Issuer shall create a first ranking exclusive charge over the Hypothecated Assets (Loans receivables) and the security will be perfected within 30 days from the Deemed Date of Allotment. Minimum security cover: The value of the Hypothecated Assets charged as Security in favour of the Debenture Trustee is maintained at least 1.10x (one point one times) of Redemption Amount and accrued Coupon from the Deemed Date of Allotment and shall be maintained at all times thereafter until the redemption of the Debentures and payment of the Secured Obligations (“Security Cover”) till the Final Settlement Date, (on the terms and conditions mentioned under the Transaction Documents) in accordance with Applicable Law and the Transaction Documents. The terms and process of creation of hypothecation shall be provided at length under the Deed of Hypothecation.
Financial Covenants: The Issuer will comply with the following covenants till the final redemption date: • The leverage should not exceed 5x • Capital Adequacy Ratio as prescribed by RBI from time to time • Gross NPA should not exceed 5% • Net NPA should not exceed 3% • PAT should remain positive (checked on Annual basis)
Early Redemption Event(s): The occurrence of any one or more of the following events shall be an early redemption event (if not resolved within a cure period of 45 days): • any breach by the Company of any of the Financial Covenants • the rating is downgraded below AA for the Debentures • Credit Rating of AA- or lower assigned to Issuer by any other Rating Agency during tenure of this bond. • In case there Change in Promoter or Management Control of the Company. • Any action by any regulator which restricts Issuer from carrying out its business activities/onward lending and not resolved within cure period

Specific Terms for Each Series of NCDs

Series I II III IV V VI*
Frequency of Interest Payment Monthly Monthly Monthly Annual Monthly Annual
Minimum Application ₹10,000 (10 NCDs) and in multiple of ₹1,000 (1 NCD) thereafter.
Face Value/ Issue Price of NCDs (₹/ NCD) ₹ 1,000
In Multiples of thereafter (₹) ₹ 1,000 (1 NCD)
Tenor 18 months 24 months 36 months 36 months 60 months 60 months
Coupon (% per annum) for NCD Holders in Category I, II, III & IV 9.00% 9.15% 9.50% 9.92% 10.00% 10.47%
Effective Yield (per annum) for NCD Holders in Category I, II, III & IV 9.38% 9.53% 9.92% 9.91% 10.46% 10.46%
Mode of Interest Payment Through various modes available
Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III & IV Rs. 1,000 Rs. 1,000 Rs. 1,000 Rs. 1,000 Rs. 1,000 Rs. 1,000
Maturity / Redemption Date (Months from the Deemed Date of Allotment) 18 months 24 months 36 months 36 months 60 months 60 months
Put and Call Option Not Applicable
Nature of indebtedness Secured

PAISALO DIGITAL LIMITED Company Financials

Particulars
31-Mar-26
31-Mar-25
31-Mar-24
Total Operating Income
943.6976
771.1066
658.7461
EBITDA
705.7699
601.3497
514.1812
EBITDA Margin
0.7479
0.7799
0.7805
PAT
237.2061
200.1207
178.973
PAT Margin
0.2514
0.2595
0.2717
Current Ratio
1.39
1.41
1.50
Tangible Net Worth
1792.8445
1534.8406
1320.5039
Total Debt
4379.1496
3574.7975
2665.2744
Debt Equity Ratio
2.44
2.33
2.02
ROCE (%)
0.1212
0.1285
0.1376
Return on Net Worth (%)
0.1426
0.1402
0.1442
Amount in ₹ Crore

Prospectus Document

Official Red Herring Prospectus (RHP)

For detailed company and issue information

Download

Timeline

Issue Opening Date
Friday, August 07, 2026
Issue Closing Date
Thursday, August 20, 2026*
Allotment
First Come First Serve Basis*

Disclaimer: This report has been prepared by RR Equity Brokers Private Ltd. The information in this report is collected from various public sources. RR Equity Brokers is not responsible for any loss or damage that may result from using this information or from investment risks.

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