Poonawalla Fincorp Limited has informed the Exchange about qualified Institutional Placement - Allotment
POONAWALLA · price
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Poonawalla Fincorp has completed a Qualified Institutions Placement (QIP), allotting 67.43 million fully paid-up equity shares at ₹370.75 per share, raising ₹25,000 million (₹2,500 crore). The issue was priced at a 5% discount to the floor price of ₹390.26 per share. Major allottees include Kotak Large & Midcap Fund (12%), Nippon India Small Cap Fund (12%), Societe Generale (9.33%), ICICI Prudential Life Insurance (7%), and HDFC Life Insurance (6.67%). The QIP opened on April 9, 2026 and closed on April 13, 2026. Post-allotment, paid-up share capital increased from ₹1,625.6 million to ₹1,760.5 million.
The QIP at a 5% discount signals confidence but also dilutes existing shareholder value. The strong participation from marquee institutional investors like Societe Generale, insurance giants, and large mutual funds indicates institutional backing for the company.