News Corporate Actions Poonawalla Fincorp Allots ₹1,000 Crore Non-Convertible Debentures at 7.8788% Coupon RatePoonawalla Fincorp Allots ₹1,000 Crore Non-Convertible Debentures at 7.8788% Coupon Rate
Poonawalla Fincorp has allotted 1,00,000 rated non-convertible debentures totaling ₹1,000 crore with an annual coupon rate of 7.8788%. The debentures are set to mature on June 12, 2028, providing investors with a medium-term fixed-income investment opportunity. This significant debt fundraising exercise strengthens the company's capital base for its non-banking financial services operations.
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Poonawalla Fincorp has completed the allotment of rated non-convertible debentures worth ₹1,000 crore, marking a significant debt fundraising exercise by the non-banking financial company. The company has issued 1,00,000 NCDs as part of this offering.
Debenture Details
The allotted debentures come with specific terms that outline the investment proposition for subscribers:
| Parameter: | Details |
|---|---|
| Number of NCDs: | 1,00,000 |
| Total Value: | ₹1,000 crore |
| Annual Coupon Rate: | 7.8788% |
| Maturity Date: | June 12, 2028 |
| Type: | Rated Non-Convertible Debentures |
Investment Structure
The non-convertible debentures offer investors a fixed-income opportunity with a competitive annual coupon rate of 7.8788%. These instruments are rated, providing investors with an assessment of the credit quality and risk profile of the investment. The debentures have a tenure extending until June 12, 2028, offering a medium-term investment horizon.
Capital Raising Initiative
This ₹1,000 crore debenture allotment represents a substantial capital raising exercise for Poonawalla Fincorp. The funds raised through this debt issuance will likely support the company's lending operations and business expansion activities in the non-banking financial services sector.
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