Poonawalla Fincorp Limited has informed the Exchange about issue of Securities
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Poonawalla Fincorp's Finance Committee has approved the issuance of unsecured, rated, listed Tier II subordinated non-convertible debentures (NCDs) on a private placement basis to eligible investors. The total issue size is up to ₹300 crore, comprising a base issue of ₹200 crore with a green shoe option to retain oversubscription up to ₹100 crore. This will be done through 30,000 NCDs of face value ₹1,00,000 each, proposed to be listed on BSE. The coupon rate, tenor, and payment schedule are not disclosed in the filing as they will be specified in the key information document. A default penalty of 2% above the coupon rate applies for any delay in interest or principal payment beyond three months.
This ₹300 crore Tier II capital raise will strengthen the company's capital adequacy and support business growth, which is positive for long-term shareholders. The dilution risk is minimal since these are debt instruments, not equity. Short-term stock impact is likely neutral as the coupon terms remain undisclosed.