Poonawalla Fincorp to issue INR16bn in debentures

Poonawalla Fincorp Limited announced today its plans to issue secured, redeemable, rated, listed, non-convertible debentures (NCDs) with a face value of INR100,000 each, for a total amount of up to INR16 Billion. The Finance Committee, authorized by the Board of Directors, approved the issuance, which will be conducted in dematerialized form through private placement to eligible investors. The NCDs are proposed to be listed on the Bombay Stock Exchange (BSE). The issuance will be split into two series: ‘C3’ STRPP I FY 2025-26 and ‘C4’ STRPP II FY 2025-26. Each series will consist of 80,000 debentures, with a base issue of INR8 Billion each. Details regarding the tenor, coupon offered, schedule of payments, and allotment/redemption dates are specified in the key information document.