Image Source : The Hindu Business Line
Poonawalla Fincorp Ltd. has approved the issuance of secured, redeemable, rated, listed Non-Convertible Debentures (NCDs) aggregating up to ₹2,000 crore. The NCDs will be issued through private placement and listed on BSE, supporting the company’s capital requirements and expansion in the consumer lending segment.
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In a strategic move to bolster its funding base, Poonawalla Fincorp Ltd. has announced the issuance of Non-Convertible Debentures (NCDs) worth up to ₹2,000 crore. The decision, approved by the company’s Finance Committee, underscores its intent to scale lending operations and strengthen its balance sheet amid rising credit demand.
Key Highlights:
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Issue Size & Structure: The company will issue secured, redeemable, rated, listed NCDs with a face value of ₹1,00,000 each, aggregating up to ₹2,000 crore.
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Mode of Issuance: The NCDs will be offered via private placement to eligible investors and will be listed on BSE Limited for secondary market trading.
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Strategic Purpose: Proceeds from the issuance are expected to support business expansion, working capital needs, and liquidity management in the consumer and MSME lending segments.
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Investor Confidence: The move reflects Poonawalla Fincorp’s strong credit profile and market credibility, positioning it well to tap into institutional capital.
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Regulatory Compliance: The issuance aligns with SEBI’s regulatory framework for listed debt instruments, ensuring transparency and investor protection.
Sources: InvestyWise, MarketScreener.
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