Poonawalla Fincorp Limited has informed the Exchange about General Updates - Notice to debenture holders
POONAWALLA · price
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Poonawalla Fincorp Limited is exercising a call option to redeem 60 non-convertible, subordinated, perpetual debentures (NCDs) with a total face value of Rs. 3 crore (Rs. 5 lakh each). The debentures were issued in June 2016 at a 12.10% annual coupon rate. The company will redeem these NCDs on June 12, 2026, along with accrued interest. The record date for determining eligible debenture holders is May 27, 2026. The NCDs carry high investment-grade ratings of CARE AA+ (Stable) and CRISIL AA+ (Stable). The redemption requires RBI approval.
Early redemption of debt indicates the company has strong cash flow to repay obligations ahead of schedule. This reduces the company's debt burden and is a positive signal for shareholders, though the impact is limited given the relatively small debt amount of Rs. 3 crore.