Poonawalla Fincorp Approves ₹500 Cr NCD Issue

Poonawalla Fincorp Limited announced the approval of its Finance Committee for the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) aggregating up to ₹500 crore. The NCDs will be issued on a private placement basis with a face value of ₹1,00,000 each. The issuance includes a base issue of ₹250 crore and a green shoe option to retain oversubscription up to ₹250 crore. These NCDs are proposed to be listed on BSE Limited. The specific terms regarding tenor, coupon, payment schedules, and redemption dates will be detailed in a key information document. The debentures will be secured by a first-ranking pari passu charge on hypothecated properties. In case of delayed payments beyond three months, the company will pay an additional 2% interest over the applicable coupon rate.