Poonawalla Fincorp Limited announced its Finance Committee has approved the issuance of secured, redeemable, rated, and listed Non-Convertible Debentures (NCDs) worth up to ₹2,000 crore. These NCDs will be issued through a private placement with eligible investors, carrying a face value of ₹1,00,000 each. The issuance is structured into two series, PFL NCD SERIES ZCB G1 FY 2026-27 and PFL NCD SERIES G2 FY 2026-27, with base issues and green shoe options for oversubscription.
Poonawalla Fincorp Secures ₹2,000 Crore Funding Through NCDs
Poonawalla Fincorp Limited (the “Company”) has received approval from its Finance Committee, authorized by the Board of Directors, for the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹2,000 crore. This significant fundraising initiative aims to bolster the company’s capital base and support its growth objectives.
Key Details of the NCD Issuance
The NCDs are proposed to be issued as secured, redeemable, rated, and listed instruments with a face value of ₹1,00,000/- each. The issuance will be conducted through a private placement mechanism targeting eligible investors. The NCDs are intended to be listed on BSE Limited, enhancing their liquidity and transparency for investors.
Structure and Size of the Issue
The total number of securities proposed to be issued is 2,00,000, for a total amount of up to ₹2,000 crore. The issuance is divided into two series:
- PFL NCD SERIES ZCB G1 FY 2026-27: With a base issue of ₹750 crore and a green shoe option to retain oversubscription up to ₹500 crore, totaling ₹1,250 crore.
- PFL NCD SERIES G2 FY 2026-27: With a base issue of ₹250 crore and a green shoe option to retain oversubscription up to ₹500 crore, totaling ₹750 crore.
The aggregate amount for both series sums up to ₹2,000 crore.
Terms and Conditions
The NCDs will be issued in dematerialized form. Key terms, including tenor and coupon offered, are detailed in the accompanying key information document. The obligations under the debentures will be secured by a first-ranking pari passu charge on the company’s Hypothecated Properties, ensuring adequate security cover. In case of delayed payment of interest or principal beyond three months from the due date, the company shall pay a penalty of 2% over the applicable coupon rate until the default is cured.
Source: BSE
