Poonawalla Fincorp Limited has informed the Exchange about issue of Securities
POONAWALLA · price
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Awaiting price reaction for this filing.
Poonawalla Fincorp has approved the issuance of 150,000 secured, redeemable, rated, listed non-convertible debentures (NCDs) on a private placement basis, with a face value of ₹1,00,000 each. The total issue size is up to ₹1,500 crore, comprising a base issue of ₹750 crore and a green shoe option for an additional ₹750 crore. The NCDs, tagged as PFL Series 'D1' FY 2025-26, will be listed on BSE and are secured by a first-ranking pari-passu charge on the company's hypothecated properties. Specifics like coupon rate, tenor, and repayment schedule will be detailed in the key information document. In case of default, the company will pay an additional 2% over the applicable coupon rate.
This is a debt-raising move that will strengthen Poonawalla Fincorp's funding base and lending capacity, though it also adds to interest obligations. The green shoe option signals confidence in investor appetite. Short-term share price impact is likely neutral as no equity dilution is involved.