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Summary: Paisalo Digital Limited launches a secured NCD public issue aggregating up to ₹300 crore (base ₹150 Cr + oversubscription ₹150 Cr). These NCDs are rated AA/Stable by Brickwork Ratings and AA/Stable by Infomerics Ratings. The NCD issuance is structured across six distinct series. The coupon rates provided vary between 9.00% and 10.47% per annum, with available investment periods of 18, 24, 36 and 60 months.
Paisalo Digital launches NCD issue offering yields up to 10.46%
Paisalo Digital Limited Tranche I NCD issue is live with an effective annual yield of up to 10.46%. The ₹300 crore issue is open for subscription and closes on August 20, 2026.
Paisalo Digital Limited NCD IPO: Issue Overview
Paisalo Digital Limited is issuing Secured, Redeemable Non-Convertible Debentures (NCDs). This issue is a strategic opportunity for investors looking for fixed-income assets with a high degree of safety.
- Credit Rating: AA/Stable (BWR) and AA/Stable (IVR)
- Yield Range: 9.38% to 10.46% p.a.
- Tenures: 18, 24, 36 and 60 months.
- Nature: Secured and Redeemable.
- High Yield | BWR AA/Stable & IVR AA/Stable Rated | Minimum Investment: 10k Only
Paisalo Digital Limited NCD Interest Rates and Effective Yields
The NCDs are being issued in Six different series to cater to different investor needs, ranging from short-term liquidity to long-term wealth compounding
Understanding the Allocation Ratio
The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI. Once the IPO subscription closes, applications will be divided into different categories.
How to Invest in Paisalo Digital NCD IPO via GoldenPi
Investing in Bond IPOs is now seamless. Follow these easy steps:
- Log in to GoldenPi.
- Look for the Search option and type Paisalo Digital
- Select Paisalo Digital NCD IPO
- Choose your series and apply via UPI.
Financial Overview of Paisalo Digital Limited:
A deep dive into the company’s balance sheet reveals a consistent growth trajectory in revenue and net worth.
Snapshot stating the Revenue, PAT and Net-worth (In crores):
Cash Flow Analysis (In crore):
Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.
- *Cash flow from operating activities reflects the amount a company generates through its product of services.
- **Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.
- ***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects the net flows of cash that are used to fund the company.
Ratio Analysis:
Should You Invest? Pros and Cons of Paisalo Digital NCD
Pros:
- Strong Credit Rating: Rated BWR AA/Stable and BWR AA/Stable, indicating high degree of safety and low credit risk.
- Secured NCDs: Senior secured NCDs provide safety in comparison to unsecured NCDs.
- Exclusive first-ranking charge: Provides an extra layer of safety, ensuring investors have the absolute highest priority and exclusive rights to the specific assets pledged for these NCDs in the event of company failure.
- Security Cover: The security cover required must be a minimum of 110% of the total of the outstanding principal balance and accrued interest.
- Competitive yields: up to 10.46% vs bank FDs. and AAA rated corporate bonds
- Wide tenor and payout options: Monthly to Annual
Cons:
- Interest Rate Risk: More pronounced in longer tenors (60 months).
- Liquidity risk: Exclusive listing on the BSE may introduce liquidity risk if trading volumes in the secondary market remain low.
Must Check: To get better returns than Bank FDs, invest in NCD-IPOs online.
About Paisalo Digital Limited:
Paisalo Digital Ltd. is a leading Indian Non-Banking Financial Company (NBFC) focused on providing technology-driven credit solutions to MSMEs, micro-enterprises, and underserved borrowers across India. Headquartered in New Delhi, the company operates through a vast network of 5,995 touchpoints across 23 states and Union Territories, offering small-ticket business, income-generation, and mobility loans. Paisalo combines a “high-tech, high-touch” lending model with AI-powered underwriting and co-lending partnerships with leading public sector banks to expand financial inclusion while maintaining strong asset quality.
Q1 FY27 Snapshort:
Strengths:
- Increasing Promoter Commitment: Promoters increased their Equity stake to 46.7% through continued open-market purchases (+4.97% in Q1 FY27), reflecting strong confidence in the company’s long-term growth.
- Strong Institutional Shareholding: Paisalo is backed by reputed institutional investors such as SBI Life Insurance, Vanguard, Morgan Stanley, BNP Paribas, and State Street Global, enhancing its credibility and governance profile.
- Asset-Light Business Model: The company follows a zero-capex distribution model by leveraging BCs and OEM/dealer partnerships. This allows it to expand geographically without significant investment in physical branches.
- Adequate Capitalisation: Net worth stood at ₹1830 Cr as of June ’26, supported by strong internal accruals. Gearing is moderate at 2.61x, while a healthy CRAR of 33.10% (vs. RBI minimum requirement of 15%) provides adequate buffers to support growth and maintain financial stability.
- Expansion of AUM: Over a five-year period (FY21 to FY26), the AUM demonstrated a 21% CAGR, reaching ₹ 6,101 Cr. Additionally, the AUM for Q1 FY27 was recorded at ₹ 6,707 Cr.
- Improving profitability profile: PAT increased to ₹237 Cr in FY26 (vs ₹200 Cr in FY25 & ₹179 Cr in FY24), with Return on Assets (RoA) to 3.8% in FY26 (vs 3.9% in FY25 & 4.5% in FY24)
- Healthy Asset Quality : GNPA improved to 0.76% (FY26) vs 0.99% (FY25), reflecting strong collection efficiency and low delinquencies in their loan book.
- Diversified funding profile: Funding is well diversified, with access to a wide network of PSU Banks (SBI, PNB, BoB, BOI) and private banks (J&K Bank, South Indian bank ), alongside capital market instruments (NCDs, ECB, FCCB), supporting funding stability and refinancing flexibility.
- Strong Liquidity Profile with Positive ALM: Paisalo maintains a positive ALM across all key maturity buckets, with surplus liquidity of ₹848 crore (<6 months), ₹714 crore (<1 year) and ₹474 crore (<3 years), reducing refinancing risk.
Weakness:
- Regional Concentration Risk: Around 92% of business comes from just five states (Delhi, Maharashtra, UP, Haryana & Rajasthan). This makes the company vulnerable to local economic issues.
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Source: Tranche I Prospectus July 31, 2026, Investor Presentation Q1 FY27 (Paisalo Digital)
Tranche I Prospectus – https://www.sebi.gov.in/filings/debt-offer-document/jul-2026/paisalo-digital-limited-tranche-i-prospectus_103303.html
Investor Presentation Q1 FY27 – https://www.paisalo.in/pdf/pdf/Investor_PPT_Q1_FY_2027.pdf
Disclaimer –The information is published as on date 07/08/2026 based on information available on Tranche I Prospectus July 31, 2026. The information may be subject to change in case of change in terms of prospectus or any other reason as the case may be. Contents which are exclusively for educational information/knowledge sharing on capital market concepts and have no influence on the investment/sale decisions of any investors.
