Poonawalla Fincorp Limited has announced the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs) with a face value of ₹1,00,000 each, for an amount aggregating up to ₹500.00 Crore. The decision was approved by the Finance Committee, authorized by the Board of Directors of the company. These NCDs will be issued in dematerialized form through private placement.
The issuance includes 50,000 secured, redeemable, rated, listed, non-convertible debentures with a face value of ₹1,00,000 each, aggregating up to ₹500.00 Crore under PFL Series ‘E1' FY 2025-26. This comprises a base issue of ₹150.00 Crore and a green shoe option to retain oversubscription up to ₹350.00 Crore.
The NCDs are proposed to be listed on BSE Limited. The tenor, coupon offered, schedule of payment of coupon/interest and principal, and the date of allotment and redemption will be specified in the key information document.
The obligations under the debentures will be secured by way of a first-ranking pari passu charge on the hypothecated properties, sufficient to provide the required security cover, until the redemption date.
Additional details regarding special rights, interests, privileges attached to the instrument, and changes thereof, as well as details of redemption of debentures, will be available in the key information document.
In case of a delay in the payment of interest or principal amount for a period exceeding three months from the due date or default in payment of interest/principal, the company shall pay coupon on the NCDs at a rate of 2% over and above the applicable coupon rate. This will be applicable for the period until such event of default is cured to the satisfaction of the Debenture Trustee, acting on the instructions of the Debenture-holders.
The tenor, coupon offered, schedule of payment of coupon / interest and principal and date of allotment and date of redemption will be specified in the key information document.
Shabnum Zaman, the Company Secretary, confirmed the details in accordance with Regulation 30 and 51 of the SEBI Listing Regulations.
The obligations under the Debentures shall, till the Redemption Date, be secured by way of first ranking pari passu charge on the Hypothecated Properties which is sufficient to provide required Security Cover.
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