Poonawalla Fincorp Limited's Finance Committee, authorized by the Board of Directors, approved the issuance of secured, redeemable, rated, listed, non-convertible debentures (NCDs).
The total issue size aggregates up to ₹ 1,600 crore (Rupees One Thousand Six Hundred Crore only).
These NCDs will have a face value of ₹ 1,00,000 (Rupees one lakh) each and will be issued in dematerialized form through a private placement to eligible investors.
A total of 1,60,000 NCDs will be issued across two series: 'C3' STRPP I FY 2025-26 and 'C4' STRPP II FY 2025-26, each comprising 80,000 debentures for ₹ 800 crore.
The NCDs are proposed to be listed on BSE Limited.
The obligations under the debentures will be secured by a first ranking pari passu charge on the hypothecated properties.
In case of a delay in payment of interest or principal amount for more than three months, the company will pay a coupon rate of 2% over and above the applicable coupon rate for the period of default.