Poonawalla Fincorp Announces ₹1.9 Billion NCD Issue with Green Shoe Option

Poonawalla Fincorp Ltd has approved a significant issuance of Non-Convertible Debentures (NCDs) worth ₹1.9 billion through a private placement. This issuance includes a green shoe option of ₹900 million, allowing for additional allocation if demand exceeds expectations. The move aims to strengthen the company's capital base and support its growth initiatives in the financial services sector. Investors are keenly watching this development as it reflects Poonawalla's strategy to enhance liquidity and fund expansion projects.

Source: Angel One, Economic Times