Mangal Credit and Fincorp Limited, a well-established non-banking financial company (NBFC), recently made an important move by listing its equity shares on the National Stock Exchange of India Limited (NSE). The company, which offers a diverse range of financial services, officially completed its listing on 16 August 2024.
Details of the NSE Listing
Mangal Credit and Fincorp, now registered as a non-deposit-taking NBFC, will trade on the NSE under the ticker symbol ‘MANCREDIT.’ This listing allows investors and market participants to access the company’s equity shares directly on the NSE platform, providing increased opportunities for investment.
Company Milestone and Leadership
This step is seen as a significant milestone for the company. Speaking about the achievement, Meghraj Sohanlal Jain, Chairman and Managing Director of Mangal Credit and Fincorp Limited, expressed his excitement. He stated, “We are thrilled to take this significant step by listing on the NSE. This move aligns with our strategic objectives of broadening our investor base and increasing market presence.”
The listing on the NSE also provides Mangal Credit with dual listings on both the NSE and the Bombay Stock Exchange (BSE), which it views as a strategic decision to enhance visibility, increase liquidity, and attract a broader array of potential investors.
Mangal Credit Financial Portfolio
Mangal Credit and Fincorp offers a varied lending portfolio designed to meet the needs of different borrowers. Their offerings include gold loans, loans against property, small and medium enterprise (SME) loans, business loans, and personal loans. This range of services has helped the company build a strong reputation in the financial sector.
The company operates in key Indian states such as Maharashtra, Rajasthan, and Gujarat. This regional presence, combined with a well-diversified loan portfolio, positions Mangal Credit as a strong player in the NBFC space.
CRISIL Rating and Market Stability
Mangal Credit and Fincorp holds a CRISIL rating of ‘BBB / Stable,’ which reflects its sound financial health and market stability. This rating indicates a moderate degree of safety regarding timely repayment of financial obligations and provides reassurance to potential investors.
Mangal Credit and Fincorp’s listing on the NSE is a strategic move that supports its long-term goals of growing its market presence and expanding its investor base. By making its equity shares more accessible to a wider pool of investors, the company is well-positioned for future growth in the financial services industry. The dual listing on both NSE and BSE is expected to increase the company’s visibility, provide greater liquidity, and attract more investors, helping it achieve its objectives.
