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Poonawalla Fincorp gets nod to raise Rs 300 crore

02 Jun 2025 Evaluate

Poonawalla Fincorp has received approval from Finance Committee, as authorized by the Board of Directors, to raise Rs 300 crore through issuance of unsecured, redeemable, rated, listed, non-convertible subordinated debentures Tier II (NCDs) in dematerialized form, through private placement.

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).

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