Poonawalla Fincorp to raise up to Rs 1,000 crore via secured NCD private placement
POONAWALLA · price
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On the reaction day the stock moved 0.2 pts less than Nifty Smallcap 250 and 0.2 pts less 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 Finance Committee approved issuance of 1,00,000 secured, redeemable, rated, listed NCDs of Rs 1,00,000 face value each, aggregating up to Rs 1,000 crore via PFL NCD Series K2 FY 2025-26, through private placement to eligible investors. To be listed on BSE. Secured by first ranking pari passu charge on hypothecated properties. Coupon, tenor and payment schedule to be in the key information document. Default beyond three months attracts 2 percent extra coupon.
Adds Rs 1,000 crore to borrowing base via private placement; coupon and tenor not yet disclosed, so cost impact is unclear.