Poonawalla Fincorp Limited announced its Finance Committee has approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs). The NCDs will have a face value of ₹1,00,000/- each and will be issued on a private placement basis to eligible investors. The total amount aggregating up to ₹500,00,00,000/- (Rupees Five Hundred Crore only) will be raised through this issuance, which is intended to be listed on BSE Limited.
Poonawalla Fincorp Plans ₹500 Crore NCD Issuance
Poonawalla Fincorp Limited (the “Company”) has announced a significant financing move with the approval for the issuance of Non-Convertible Debentures (NCDs). The Finance Committee, acting under the Board of Directors’ authority, has sanctioned the issuance of secured, redeemable, rated, listed, non-convertible debentures on a private placement basis.
Each NCD will carry a face value of ₹1,00,000/-. The total aggregate amount for this issuance is set at a maximum of ₹500,00,00,000/- (Rupees Five Hundred Crore only). These NCDs will be issued in dematerialized form.
Key Terms of the NCD Issuance
The NCDs are intended to be listed on BSE Limited. The total number of securities proposed to be issued amounts to 50,000 secured, redeemable, rated, listed non-convertible debentures, forming part of the PFL NCD SERIES H1 FY 2026-27. The specific terms regarding tenor, coupon, schedule of payment, date of allotment and redemption, and any created charge or security over assets will be detailed in a key information document.
The obligations under the debentures will be secured by a first-ranking pari passu charge on Hypothecated Properties, ensuring sufficient security cover until the Redemption Date. Any delay in interest or principal payment beyond three months will incur a penalty of 2% over and above the applicable coupon rate, to be paid until the default event is cured.
Source: BSE
