Poonawalla Fincorp allots Rs 250 Cr NCDs at 8.14% via private placement
POONAWALLA · price
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Poonawalla Fincorp has allotted 25,000 secured, listed, redeemable non-convertible debentures of face value Rs 1,00,000 each, aggregating to Rs 250 crore, through private placement. The NCDs carry a coupon of 8.1390% per annum, have a tenure of 1,168 days (about 3 years 2 months), maturing on September 26, 2029, and will be listed on BSE's debt market segment. They are secured by a first-ranking pari passu charge on the company's hypothecated assets. A 2% additional coupon applies on defaults beyond three months.
Company raises Rs 250 crore through 3-year secured NCDs at 8.14% coupon, boosting lending capital without any equity dilution for shareholders.