Poonawalla Fincorp has received approval for issuance of secured, redeemable, rated, non-convertible debentures of face value of Rs 100,000 each (NCDs) for an amount aggregating up to Rs 200 crore (Base Issue Size) with a green shoe option of up to Rs 300 crore total aggregating up to Rs 500 crore in one or multiple series through Private Placement. The Finance Committee, as authorized by the Board of Directors of the Company has on January 31, 2024 approved the same.
Poonawalla Fincorp (Formerly known as Magma Fincorp) is a non-deposit taking systemically important non-banking finance Company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI).
