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).