SE Investments has seen a stunning 56 percent rally this month. The company has now changed their name to Paisalo Digital and they have launched a new loan disbursal App with the same name. In an interview to CNBC-TV18, Sunil Agarwal, MD of Paisalo Digital spoke about the App and latest happenings in the company.
SE Investments has logged good gains after the company's board approved a proposal of raising funds by way of issue of unlisted unsecured non-convertible redeemable debentures for an amount of Rs 95 crore on private placement basis.
SE Investments' asset under management (AUM) currently stands at Rs 961 crore versus Rs 870 crore YoY, says Sunil Agarwal, the company's managing director. He expects a 40 percent jump in AUM in the current financial year.
As SE Investments complies with most RBI norms, the board will take final decision next week, says company MD Sunil Agarwal.
Sunil Agarwal, MD, SE Investments said there are no issues related to the performance of the company and the company at present is not looking at any PE investments.
In an interview to CNBC-TV18, Sunil Agarwal, managing director of SE Investments says, the profitability is under stress. “Going forward, we will have to change our strategies, keep a tab on cost almost on a daily basis,” he adds.
SE Investments targets disbursement of about Rs 1,200 crore in micro finance and trade loan segments. The company's disbursements were poor in the first quarter due to liquidity concerns and lack of bankers support.
The SE Investments stock has not been doing well for quite some time. In January 2011, the stock price was around Rs 49 which reduced to Rs 17 a month back. This current rate of this stock is Rs 8. Sunil Agarwal said that they prefer being cautious on their funding pattern as they don’t want to increase their NPAs in the coming year.
In an interview on CNBC-TV18, Sunil Agarwal, MD of SE Investments Ltd confirmed that microfinance lending has taken a hit. "Currently, the share of book in microfinance is around 36%. It has gone down from 48-49% which is what it used to be because of low supply."
SE Investments is undertaking restructuring plans with regards to hive off their MFI business into a wholly owned subsidiary. Sunil Agarwal, MD of SE Investments, in an interview with CNBC-TV18’s Sonia Shenoy and Ekta Batra, spoke about the recent happenings in his company and the road ahead.