Baid Finserv Ltd, a leading MSME loans and vehicles loan provider in India, has approved the issuance of Non-Convertible Debentures for a private placement basic of up to Rs. 250 crore, with the terms and conditions to be determined by the board of directors at its 32nd Annual General Meeting.
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. With a focus on serving the underserved, it has expanded into Madhya Pradesh and Rajasthan. Baid Finserv aims to make finance accessible at reasonable costs while maintaining transparency.
The company reported a net profit of Rs. 5.61 crore for Q1FY24, a 131% YoY growth from the previous year. Revenue from operations also increased by 29.6% to Rs. 18.24 crore, compared to Rs. 12.83 crore in Q1FY23. The company also declared a final dividend of Rs. 0.10 per share for FY 22-23 at its AGM.Baid Finserv aims to provide financial support to small business owners and individuals in underserved areas by providing formal financing. The company values trust and has built a strong market reputation, committed to upholding its legacy for future generations.
