New Delhi, April 8 -- Shares of Paisalo Digital, a smallcap non-banking financial company (NBFC) backed by LIC and SBI Life Insurance, surged in trade on Tuesday, April 8, after the company unveiled ambitious fundraising plans and a series of board-level changes. The move, seen as a strategic push to strengthen its capital base and governance, brought fresh focus to the underperforming stock, which has been reeling under selling pressure for several months.

Paisalo Digital's Board of Directors gave in-principle approval to raise up to Rs.2,700 crore through a combination of equity shares, foreign currency convertible bonds (FCCBs), and other eligible securities. The funds will be raised in one or more tranches through instruments such as...