1. Loan-to-equity conversion - The company has issued preferential shares to non-promoter lenders (Calyx Securities, Dewan Motors) upon conversion of unsecured loans, with a ₹500 crore preferential issue covered by a monitoring agency report. Converting debt into equity removes interest burden and strengthens the balance sheet, supporting further borrowing capacity for the NBFC's lending book.
2. Fund-raising proposal - A board meeting was scheduled for 30 Sep 2025 to approve raising funds via QIP, rights issue, preferential issue, or FPO, though the meeting was postponed to 09 Oct 2025. Fresh equity capital would fund the lending and securities-trading expansion at a time when the company's debt-to-equity ratio stands at 2.16.
3. Securities trading expansion - The stated 5-year plan (as of Feb 2025) is to expand into acquiring and dealing in shares, stocks, debentures, bonds, and government securities, aiming to become a leading financial services player. This diversifies beyond the current unsecured personal and corporate loan origination into higher-margin trading and advisory revenue streams.
4. Related-party investment in Sital Leasing - A related-party investment of ₹55.62 crore was made in Sital Leasing and Finance Ltd., a company with a common director. This investment could generate returns through leasing income and capital appreciation, adding a new earnings leg to the NBFC's portfolio.