Poonawalla Fincorp Approves ₹200 Cr NCD Issue

Poonawalla Fincorp Ltd announced the approval of an issue of unsecured, redeemable, rated, listed, subordinated, non-convertible debentures (NCDs) constituting Tier II capital. The Finance Committee, authorized by the Board, approved the issuance aggregating up to ₹200 crore. The NCDs will be issued in dematerialized form through private placement. The base issue size is ₹150 crore with a green shoe option to retain oversubscription up to ₹50 crore. These NCDs are proposed to be listed on BSE Limited. The specific terms, including tenor, coupon, payment schedule, and redemption details, will be as specified in the key information document. In case of delay in interest or principal payment beyond three months, the company will pay an additional 2% over the applicable coupon rate until the default is cured.