New Delhi, March 19 -- Paisalo Digital on Wednesday announced that its board of directors has approved fundraising by issue of Commercial Papers (CP) to the State Bank of India (SBI).

The Operations and Finance Committee of Board of Directors of Paisalo Digital has sanctioned the issuance of Commercial Papers (CPs) totaling up to Rs.90 crore via private placement.

It has specifically approved the issuance of 600 listed CPs, each with a face value of Rs.5 lakh each, amounting to Rs.30 crore, to State Bank of India (SBI).

These CPs, priced at Rs.4,86,653.50 each, offering a yield of 11% will reach maturity in 91 days, with an allotment date set for March 19, 2025. The CPs redemption date is scheduled as on June 18, 2025, with IDBI Bank L...