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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2026 (annualised))
Investment Thesis
Sarnimal Investment Limited (Bloomberg: SARN:IN) is a Delhi-based listed NBFC incorporated in 1981, RBI-registered since 2000 as a Category B non-deposit-accepting company. Operating from Barakhamba Road, New Delhi, the company generates annualised revenue of ~₹1.16 Cr with a paid-up capital of ₹4.50 Cr. Quarterly profits have been declining sharply (down 50% in Dec 2025, down 66% in June 2024), indicating a very small, near-stagnant NBFC with minimal growth momentum. The Delhi Stock Exchange delisting compounds liquidity risks for any stakeholder.
Pros
Cons
Business Segments
NBFC Category B (non-deposit accepting) — investment and lending activities, Barakhamba Road, New Delhi
Revenue Model
As a registered NBFC, the company is theoretically licensed to lend, invest in securities, and earn interest income. In practice, with negligible revenues, the company appears to be holding investments or assets with minimal active deployment of capital.
Detailed Analysis
Growth Plans
Potential acquisition or reverse merger by a company seeking an NBFC licence could unlock value.
RBI's NBFC licensing restrictions increase the value of existing registered NBFCs, even dormant ones.
Industry Tailwinds
Potential acquisition or reverse merger by a company seeking an NBFC licence could unlock value.
RBI's NBFC licensing restrictions increase the value of existing registered NBFCs, even dormant ones.
Recent Developments
Comparable Companies
Similar dormant listed investment entities
Frequently Asked Questions
About Sarnimal Investment Limited
Sarnimal Investment Limited is a BSE-listed company incorporated in Delhi, registered as a non-banking finance company (NBFC). The company's operations are effectively dormant with negligible revenue, consisting primarily of investment income from a small portfolio of financial assets. Sarnimal is one of many legacy listed shell/investment companies that retain their listing status while conducting minimal business. The company's market cap is minuscule and stock is illiquid.
Key Milestones
1981 — Incorporated as Sarnimal Investment Private Limited, ROC Delhi & Haryana (Reg. No. 012431)
Converted to Public Limited and listed on Delhi Stock Exchange in FY1982-83
2000 — Received RBI NBFC Certificate of Registration (B-14.02077)
Common questions about unlisted shares
You buy from and sell to the wisefolio desk — shares route through the desk's demat, money-in before shares-out.
You enquire
· Takes 2 minutesTell us the company and quantity you want. Share your demat details so we can settle directly into your account.
We source & quote
· Typically within 1 business dayOur desk sources the shares and comes back with a firm price and an allocation for the quantity available.
You accept the allocation
· Quote valid for 3 daysReview the price, quantity and total. Accept to lock the allocation. The quote is valid for a short window before it needs re-pricing.
You transfer the funds
· Pay within 2 days of acceptingPay by direct bank transfer to the desk's published account — never to a personal account. We confirm receipt and begin the transfer.
Shares reach your demat
· Usually credited within 2–3 business daysOnce payment is verified, the shares are transferred from the desk's demat into yours, and you receive a transfer confirmation.
A principal desk for unlisted & pre-IPO shares — you transact with us, not a stranger.
You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Industry Headwinds
RBI may cancel the NBFC registration if minimum compliance requirements are not met.
Penny stock status makes it vulnerable to manipulation and sudden de-listing.
Key Strengths
BSE listing retained
Debt-free balance sheet
Regulatory compliance as NBFC maintained
Key Weaknesses
Effectively dormant—no meaningful business
No growth prospects in current form
Illiquid stock with negligible trading volumes
No institutional interest
Company's operations are described as dormant with negligible revenue, indicating no active business and a high risk of continued value erosion.
Source: Media Reports / Public Records
NBFCs are required to maintain minimum net owned funds and comply with RBI's scale-based regulations; a dormant NBFC may face cancellation of its certificate of registration.
Source: Media Reports / Public Records
With a share price of ₹1 and market cap of ~₹2 Cr, the stock has negligible trading volumes and virtually no exit liquidity for investors.
Source: Company Financial Filings
Effectively dormant—no meaningful business
Source: AlphaHub Research
No growth prospects in current form
Source: AlphaHub Research
Illiquid stock with negligible trading volumes
Source: AlphaHub Research
No institutional interest
Source: AlphaHub Research
Company's operations are described as dormant with negligible revenue, indicating no active business and a high risk of continued value erosion.
NBFCs are required to maintain minimum net owned funds and comply with RBI's scale-based regulations; a dormant NBFC may face cancellation of its certificate of registration.
With a share price of ₹1 and market cap of ~₹2 Cr, the stock has negligible trading volumes and virtually no exit liquidity for investors.