Poonawalla Fincorp to raise up to 750 crore via secured NCD private placement
POONAWALLA · price
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On the reaction day the stock moved 0.5 pts more than Nifty Smallcap 250 and 1.8 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Poonawalla Fincorp will issue up to 750 crore in secured, listed NCDs via private placement to eligible investors. Base size is 500 crore with a green shoe option of 250 crore, totalling 75,000 NCDs at face value of 1 lakh each. The NCDs are secured by first ranking pari passu charge on company assets and will be listed on BSE. Coupon rate, tenor, and redemption details will be in the key information document.
Raises growth capital through debt with no equity dilution. Borrowing cost depends on coupon, which is not yet disclosed.