The non-banking financial company (NBFC) is currently holding a strong position in the economy, benefiting from the ongoing upward trend and continuous foreign inflows. With the increasing adoption of digital technologies, India’s financial services sector is experiencing a significant transformation.
The financial services sector has undergone a major transformation driven by evolving consumer preferences and increased competition. As new players continue to enter the market, there is substantial growth potential. Visagar Financial Services, a leading NBFC, has announced its intention to sell a stake to Alliance Global Blanco, a wealth and asset management firm based in England.
Alliance Global Blanco, with over $150 billion under management, specializes in asset management.
Visagar Financial Services stated in a filing to the exchanges that the stake acquisition could be made through open market purchases or additional rights issue shares, but in either case, Alliance Global will become the majority stakeholder in the NBFC.
In addition to its investment activities, the NBFC is also engaged in debt financing and foreign currency financing.
Despite being a zero-debt penny stock, the shares of the financial services company have provided a 350% return to investors in the past three years, according to exchange data. In December of last year, the company announced a 51:10 rights issue. In the financial year 2022-23, the company reported a 230% increase in net revenue.
Notably, India’s financial sector has experienced significant growth in recent years, thanks to the policies of the Modi government that have promoted financial inclusion, bringing millions of people into the formal financial system. The sector’s growth and the inclusion of the poor in the mainstream indicate the resilience of the economy. The government has helped fulfill the dreams of millions of people through schemes such as Mudra loans, PM Swanidhi Yojana, and others.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.