Poonawalla Fincorp Limited has informed the Exchange about issue of Securities
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Poonawalla Fincorp has received approval from its Finance Committee to issue secured, redeemable, rated, listed non-convertible debentures (NCDs) on a private placement basis. The total issue size is up to ₹500 crore, with a base issue of ₹150 crore and a green shoe option to retain oversubscription up to ₹350 crore. Each NCD has a face value of ₹1,00,000, making it 50,000 NCDs in total. The NCDs will be listed on BSE and are secured by a first-ranking pari-passu charge on the company's hypothecated properties. Specifics like the coupon rate, tenor, and repayment schedule are not disclosed in this filing and will be as per the key information document.
This ₹500 crore NCD raise will strengthen Poonawalla Fincorp's funding base for lending operations. For shareholders, this means more debt on the books, which may modestly pressure interest coverage, though the secured nature of the NCDs and listing on BSE provide transparency. The coupon rate and pricing details, once known, will be key to assessing the cost impact.