Poonawalla Fincorp Limited has announced the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) for an amount aggregating up to ₹3,000 crore. The NCDs have a face value of ₹1,00,000 each and will be issued in dematerialized form through private placement. The debentures will be secured by a first-ranking pari passu charge on hypothecated properties.
Debenture Issuance Approved
Poonawalla Fincorp Limited’s Finance Committee approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) up to ₹3,000 crore. These debentures have a face value of ₹1,00,000 each. This decision was authorized by the Board of Directors. The issuance will be in dematerialized form through private placement.
Key Details of the NCDs
The NCDs are to be issued under PFL Series ‘G1’ FY 2025-26, with a base issue of ₹2,500 crore, and through re-issuance under PFL NCD Series ‘D1’ FY 2025-26 (INE511C07912) with a base issue of ₹500 crore.
Security and Charge
The obligations under the Debentures will be secured by a first-ranking pari passu charge on the Hypothecated Properties until the Redemption Date. This security cover is deemed sufficient.
Additional Information
Details regarding the tenor, coupon offered, schedule of payments, and dates of allotment and redemption are available in the key information document. The company shall pay an additional coupon of 2% over the applicable rate for any delay in payment of interest or principal.
Source: BSE
