U Y Fincorp, a penny stock and Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE), saw its share price jump by 16% on October 1, 2024, just ahead of its upcoming listing on the National Stock Exchange (NSE) set for October 3, 2024.
The company’s shares are already trading on the BSE and will now be available on the NSE under the symbol “UYFINCORP.” After the surge, U Y Fincorp’s share price was up 13.67% at ₹34.67 on BSE as of 2:25 PM on October 1, giving the company a market capitalization of ₹659.56 crore. The stock reached a 52-week high of ₹36.46.
The NSE listing was confirmed after the company received notification from the exchange on September 30, 2024. U Y Fincorp will be trading 19,02,38,329 fully paid equity shares valued at ₹5 each, marking a significant step in its growth and influence in India’s financial services.
Strong Financial Performance
In the last fiscal year, U Y Fincorp’s annual revenue surged by 245.06% to ₹197 crore, and its quarterly revenue rose by 71.87% year-on-year to ₹36 crore in Q1FY25. The company’s net profit also increased dramatically, soaring by 738.2% to ₹64.92 crore in FY24.
Notably, U Y Fincorp operates without any debt, allowing for greater potential for future growth. The company has also launched its loan brand, GrowU, starting in Lucknow and Kanpur, with plans to expand to other areas like Prayagraj and Varanasi.
U Y Fincorp is focusing on digitizing small loans, maintaining a monthly disbursement of ₹100 lakhs, with interest rates ranging from 24% to 30%.
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