Poonawalla Fincorp Approves ₹750 Cr NCD Issue

Poonawalla Fincorp Ltd announced the approval of its Finance Committee for the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) aggregating up to ₹750 crore. The NCDs will be issued on a private placement basis to eligible investors. The issue has a base size of ₹250 crore with a green shoe option to retain oversubscription up to ₹500 crore. The NCDs are proposed to be listed on BSE Limited. Specific terms regarding tenor, coupon, payment schedules, and redemption are 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 interest or principal payments beyond three months, the company will pay an additional 2% coupon rate.