Poonawalla Fincorp has approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) with a face value of ₹1,00,000 each, aggregating up to ₹2,000 Crore. The NCDs will be issued in dematerialized form through private placement. These debentures are proposed to be listed on the BSE Limited.
Debenture Issuance Approved
The Finance Committee of Poonawalla Fincorp has approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs). The issue size aggregates up to ₹2,000 Crore (Rupees Two Thousand Crore only). The face value of each NCD is ₹1,00,000.
Details of the NCDs
The NCDs will be issued through private placement to eligible investors and are proposed to be listed on BSE Limited. The company plans to issue 2,00,000 Secured, Rated, Listed, Redeemable, Non-Convertible Debentures.
Series and Breakdown
The issuance is divided into two series:
Series ‘G2’ STRPP I FY 2025-26: 1,00,000 debentures with a face value of ₹1,00,000 each, with a base issue of ₹1,000 Crore.
Series ‘G3’ STRPP II FY 2025-26: 1,00,000 Partly-paid Non-Convertible Debentures with a face value of ₹1,00,000 each (paid up value of ₹1000 per debenture (1st tranche)), with a base issue of ₹1,000 Crore.
Key Terms
Tenor, coupon offered, and schedule of payment of coupon/interest and principal are specified in the key information document.
Security and Charge
The obligations under the Debentures shall be secured by way of a first-ranking pari passu charge on the Hypothecated Properties until the Redemption Date.
Delay in Payment Clause
The company will pay coupon on the NCDs at a rate of 2% (two percent) over and above the applicable coupon rate for any delay in payment of interest/principal. This applies for the period until such default is resolved to the satisfaction of the Debenture Trustee.
Source: BSE
