Baid Finserv Ltd – one of India’s leading MSME loans and Vehicles loan provider has approved the proposal of issuance of Non-Convertible Debentures for an amount not exceeding Rs. 250 crore on private placement basic. Company approved the issuance at its 32nd Annual General Meeting (AGM) held on September 7, 2023. The terms and condition of the issue will be decided by the board of directors.
Baid Finserv Ltd, established in 1991, is India’s top vehicle loan and MSME loan provider. As a Non-Deposit Taking NBFC, it offers Auto Loans, Commercial Vehicle Loans, MSME Loans, Loan Against Property, and other asset-backed loans. The company focuses on serving the underserved and has expanded into Madhya Pradesh and Rajasthan. Baid Finserv’s core objective is to make finance accessible at reasonable costs while maintaining transparency.
For Q1FY24, the company reported a net profit of Rs. 5.61 crore, a 131% YoY growth, and a 29.6% revenue growth to Rs. 18.24 crore. The company also declared a final dividend of Rs. 0.10 per share for FY 22-23.Baid Finserv Limited offers formal financing to small business owners and individuals in underserved areas, aiming to bridge the financial gap and ensure their continued growth and success for future generations.
