Disclosure under Regulation 30 and 51 of the SEBI Regulations - Issue of Non-convertible Debentures
POONAWALLA · price
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Poonawalla Fincorp Limited has announced issuance of secured, redeemable, rated, listed non-convertible debentures (NCDs) worth up to ₹1,000 crore through private placement. The NCDs have a face value of ₹1,00,000 each, with a base issue of ₹500 crore and a green shoe option to retain oversubscription of up to ₹500 crore. The debentures will be listed on BSE Limited and are secured by first ranking pari passu charge on hypothecated properties. Specific coupon rates and tenure details are to be provided in the key information document. In case of any delay in payment, the company will pay a penalty of 2% above the applicable coupon rate.
This NCD issuance through private placement provides debt funding to support the company's lending operations. The secured nature and rating of the NCDs indicate moderate risk, while the ₹1,000 crore size reflects significant borrowing activity that could impact future interest expenses and profitability.