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The company will issue secured, rated, listed, redeemable NCDs with a face value of Rs 1 lakh each, having coupon rate of 2% over and above the applicable coupon rate.
These debentures will be listed on Bombay Stock Exchange (BSE).
Poonawalla Fincorp is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans. It has AUM of Rs 28,396 crore as on 30 September 2024, and employs around 2560 people
The company reported consolidated net loss of Rs 471.04 crore in Q2 FY25 as compared with net profit to Rs 860.17 crore in Q2 FY24. Total income declined 36.4% YoY to Rs 996.50 crore in the September 2024 quarter.
The scrip declined 0.79% to currently trade at Rs 319.35 on the BSE.
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