08-09-2021 10:01 AM | Source: Accord Fintech
Dhanvarsha Finvest rises on entering into Co-Lending Partnership with Central Bank of India
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Dhanvarsha Finvest is currently trading at Rs. 750.00, up by 10.30 points or 1.39% from its previous closing of Rs. 739.70 on the BSE.

The scrip opened at Rs. 765.00 and has touched a high and low of Rs. 778.00 and Rs. 748.00 respectively. So far 6399 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 849.00 on 13-Jul-2021 and a 52 week low of Rs. 95.50 on 12-Aug-2020.

Last one week high and low of the scrip stood at Rs. 779.00 and Rs. 725.00 respectively. The current market cap of the company is Rs. 1134.18 crore.

The promoters holding in the company stood at 61.19%, while Institutions and Non-Institutions held 4.23% and 34.57% respectively.

Dhanvarsha Finvest has entered into a Co-Lending Partnership with Central Bank of India (CBOI) for providing hassle free customized lending to MSME Gold loan customers. In this partnership, the company will originate, service and collect on MSME gold loans under a joint credit and eligibility policy decided between the two entities. CBOI will take 80% of these loans in its own books while the company will retain 20%.

Definitive Agreements for the aforesaid Co-lending partnership have been executed between the Company and CBOI on August 07, 2021. This partnership will enable robust portfolio growth for both entities while offering customized solutions and a superior experience to the underbanked and underserved MSME customer.

Dhanvarsha Finvest was formed with a clear foresight to accelerate the dream of achieving more broad based financial inclusion in India. The company aims to attain this objective by providing sustained, customized and affordable financing solutions to the Micro, Small & Medium Enterprises (MSME) and Low to Middle Income (LMI) groups.