Poonawalla Fincorp Limited announced the allotment of 1,00,500 secured, redeemable, rated, listed, non-convertible debentures with a face value of ₹1,00,000 each, amounting to ₹1,005 crore, through private placement. The allotment was approved by the Finance Committee on July 15, 2025, as authorized by the Board of Directors.
| Particulars | Details |
|---|---|
| Issue Size | ₹1,005 Crore |
| Number of NCDs Allotted | 1,00,500 |
| Face Value | ₹1,00,000 per NCD |
| Instrument | Secured, Redeemable, Rated, Listed, Non-Convertible Debentures |
| Listing | Debt Market Segment of BSE Limited |
| Series | PFL NCD Series ‘D1' FY2025-26 |
| Tenure | 2 years and 71 days |
| Date of Allotment | July 15, 2025 |
| Date of Maturity | September 24, 2027 |
| Coupon/Interest Rate | 7.5285% p.a. |
| Security | First ranking pari passu charge on the Hypothecated Properties |
Detailed Analysis
The debentures, identified as PFL NCD Series ‘D1' FY2025-26, have a tenure of 2 years and 71 days, with a maturity date of September 24, 2027. The coupon rate is set at 7.5285% per annum. The obligations under the debentures are secured by a first-ranking pari passu charge on hypothecated properties, ensuring sufficient security cover until the redemption date.
Additional Context
The issue included a base issue size of ₹750 crore along with a green shoe option to retain oversubscription of ₹255 crore, bringing the total issue size to ₹1,005 crore. In case of delay in payment of interest or principal, the company shall pay coupon on the NCDs at a rate of 2% over and above the applicable coupon rate for the period until such event of default is cured to the satisfaction of the Debenture Trustee.
Market Impact
This issuance allows Poonawalla Fincorp to diversify its funding sources and strengthen its financial position. The secured nature of the NCDs and the fixed coupon rate may attract investors seeking stable returns.
