Poonawalla Fincorp has announced the approval of a ₹1,000 crore fundraising initiative through the issuance of secured, rated, listed, non-convertible debentures (NCDs). The issuance will be conducted via private placement under PFL NCD SERIES B1 FY2026-27. The offering includes a base size of ₹500 crore with a green shoe option to retain oversubscription of an additional ₹500 crore, further strengthening the company’s capital position for the ongoing fiscal year.
Issuance Details
The Finance Committee, authorized by the Board of Directors, has approved the issuance of 100,000 non-convertible debentures, each with a face value of ₹1,00,000. This debt instrument is designed to raise up to ₹1,000 crore in aggregate. The capital raised is expected to support the company’s strategic growth objectives and operational requirements.
Security and Terms
These debentures are secured, redeemable, and rated instruments, offered on a private placement basis. To ensure investor protection, the obligations are backed by a first-ranking pari passu charge on the company’s hypothecated properties, ensuring a sufficient security cover throughout the tenure of the debentures.
Default Provisions
In the event of a payment delay regarding interest or principal exceeding three months, or in the case of a payment default, the company is committed to an additional penalty interest. Specifically, the company will pay a coupon at a rate of 2% per annum over and above the applicable coupon rate until the default is fully cured to the satisfaction of the Debenture Trustee.
Source: BSE
