Poonawalla Fincorp Limited has announced the approval for the issuance of unsecured, redeemable, rated, listed, and subordinated Non-Convertible Debentures (NCDs) aggregating up to ₹2,000 crore. These NCDs, constituting Tier II capital, will be issued through a private placement to eligible investors at a face value of ₹1,00,000/- each. The issuance aims to strengthen the company’s capital base and support its growth initiatives.
Poonawalla Fincorp Approves Substantial NCD Issuance
Poonawalla Fincorp Limited’s Finance Committee has officially approved the issuance of Non-Convertible Debentures (NCDs). The total aggregate amount for this issuance is set at ₹2,00,00,00,000/- (Rupees Two Hundred Crore only). These NCDs are classified as unsecured, redeemable, rated, listed, and subordinated instruments, designed to constitute Tier II capital for the company.
Issue Details and Structure
The NCDs will be issued in dematerialized form through a private placement mechanism targeting eligible investors. The face value of each NCD is ₹1,00,000/-. The total proposed issuance comprises a base issue of ₹150,00,00,000/- (Rupees One Hundred Fifty Crore only). Additionally, a green shoe option is available to retain oversubscription up to ₹50,00,00,000/- (Rupees Fifty Crore only). These debentures are part of PFL NCD Series ‘SDA1’ for FY2026-27 Re-issuance-II, identified by the ISIN INE511C08AN2.
Key Terms and Conditions
The NCDs are proposed to be listed on BSE Limited. The specific tenor, coupon offered, and the schedule for payment of coupon/interest and principal, along with the date of allotment and redemption, will be as detailed in the key information document. In case of any delay in payment of interest or principal for more than three months from the due date, the company shall pay a penalty coupon rate of 2% (two percent) over and above the applicable coupon rate until the event of default is cured.
The assets created over the securities are unsecured, specifically subordinated debentures under Tier II capital. Further details regarding special rights, interests, privileges, and the redemption of debentures are available in the key information document.
Source: BSE
