Poonawalla Fincorp Limited has informed the Exchange regarding Notice of Postal Ballot
POONAWALLA · price
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Awaiting price reaction for this filing.
Poonawalla Fincorp has issued a postal ballot notice dated July 25, 2025 seeking shareholder approval (via e-voting from July 26 to August 24, 2025) for three special resolutions. The first resolution seeks approval to issue 3,31,48,102 equity shares at Rs. 452.51 per share (totalling ~Rs. 1,500 crore) on a preferential basis to Rising Sun Holdings Private Limited, the company's promoter. The second resolution proposes increasing the Board's borrowing limit to Rs. 75,000 crore under Section 180(1)(c) of the Companies Act, 2013, replacing the earlier limit approved in January 2025. The third resolution seeks approval to create mortgages, charges, and encumbrances on the company's assets to secure these borrowings. The company stated the capital raise will help fund its 5-6x AUM growth roadmap over the next 5 years.
Existing shareholders will see dilution of approximately 3.31 crore new shares (~Rs. 1,500 crore) issued exclusively to the promoter group, which will increase the promoter's stake. The significant jump in the borrowing limit (previously approved in Jan 2025) signals aggressive growth plans in lending, particularly in consumer and MSME segments. Shareholders should evaluate whether the capital infusion and expanded borrowing capacity align with the company's stated growth trajectory and long-term value creation.