Poonawalla Fincorp Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot dated July 25, 2025
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Poonawalla Fincorp has issued a corrigendum to its July 25, 2025 postal ballot notice, correcting the aggregate issue size from Rs. 1,499,99,99,813.94 to Rs. 1,499,98,47,636.02 (a minor reduction after accounting for issue expenses). The number of shares (3,31,48,102 equity shares) and the issue price (Rs. 452.51 per share, including a Rs. 450.51 premium) remain unchanged. The company is a fast-growing NBFC, with AUM growth of 42.5% YoY in FY25 and 53% YoY in Q1 FY26. Out of the total ~Rs. 1,499.98 crore raised, Rs. 1,259.98 crore will be used to prepay/repay borrowings (within 12 months), Rs. 230 crore for AUM growth and lending activities, and Rs. 10 crore for general corporate purposes. All other terms of the original postal ballot notice remain the same.
This is largely a housekeeping correction with no change in the deal size or pricing, so the impact on shareholders is minimal. The substantial use of proceeds for debt repayment could improve the company's capital structure and reduce interest costs, while the Rs. 230 crore earmarked for lending supports continued AUM expansion.