Poonawalla Fincorp Limited has informed the Exchange regarding Outcome of Committee Meeting held on April 09, 2026.
POONAWALLA · price
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Poonawalla Fincorp Limited has announced the outcome of its Committee meeting held on April 9, 2026, regarding a Qualified Institutions Placement (QIP) of fully paid-up equity shares with face value of ₹2 each. The committee authorized the opening of the Issue on April 9, 2026, and approved the floor price of ₹390.26 per equity share based on the SEBI ICDR Regulations pricing formula. The company may offer a discount of up to 5% on the floor price, subject to shareholder approval obtained via postal ballot on February 19, 2026. The final issue price will be determined in consultation with the book running lead managers.
The QIP will dilute existing shareholder equity but provides capital for the company's growth or debt repayment needs. The potential 5% discount indicates the company is offering an incentive to attract institutional investors.