TrueCap Finance Ltd’s shares were up by 2.59 per cent after the company announced a co-lending partnership with HDFC Bank which has embarked on extending quality credit solutions to underserved borrowers. Leveraging TruCap’s Lending-as-a-Service (L-a-a-S) model, the collaboration will primarily cater to borrowers in non-urban areas by providing MSME business loans and gold loans. Industry estimates indicate that the MSME sector’s total credit demand stands at ₹69.3 trillion, with formal sources addressing less than 15 per cent of this demand.
The collaboration with HDFC Bank holds the potential to drive financial inclusion and empowerment, particularly for women-led businesses. This network positions TRU to deliver solutions to small businesses, be it for securing working capital or acquiring assets to bolster revenue generation and sustain livelihoods in non-metro regions. The collaboration underscores a concerted effort to address the critical financing needs of underserved businesses.
The shares were up by 2.59 per cent to ₹59.58 at 11 am on the BSE.