Kotak Mahindra Mutual Fund has disclosed crossing the 5% shareholding threshold in Poonawalla Fincorp Limited following a recent acquisition of equity shares through open market transactions. The disclosure was made in compliance with SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011.

Share Acquisition Details

The mutual fund acquired 702,046 additional equity shares of Poonawalla Fincorp on April 07, 2026, through open market purchases. This acquisition increased Kotak Mahindra Mutual Fund's total holding in the company from 40,128,440 shares to 40,830,486 shares.

Regulatory Compliance

The acquisition triggered the mandatory disclosure requirement under Regulation 29(1) of SEBI SAST Regulations as the mutual fund's holding crossed the 5.00% threshold. Kotak Mahindra Mutual Fund confirmed that it does not belong to the promoter or promoter group of Poonawalla Fincorp Limited.

Company Profile

Poonawalla Fincorp Limited's equity shares are listed on both BSE Limited and the National Stock Exchange of India Limited. The company has a total equity share capital of 81,28,17,658 equity shares of Rs. 2 each, which remained unchanged before and after the acquisition.

Investment Structure

The shares were acquired through various schemes of Kotak Mahindra Mutual Fund, with Kotak Mahindra Asset Management Company Limited serving as the investment manager. The acquisition was executed through regular open market transactions without any special features or conversion rights attached to the securities.

The disclosure was signed by Jolly Bhatt, Compliance Officer at Kotak Mahindra Asset Management Company Limited, and submitted to the stock exchanges for record.

Poonawalla Fincorp Limited has announced the commencement of its qualified institutions placement (QIP) of fully paid-up equity shares with a floor price of ₹390.26 per share. The Committee of Directors approved the opening of the issue on April 9, 2026, following requisite board and shareholder approvals.

Committee Approvals and Documentation

The Committee of Directors, comprising Board members, convened on April 9, 2026, from 6:50 p.m. to 7:05 p.m. to formalize the QIP launch. The committee passed resolutions covering multiple aspects of the placement:

The committee authorized the opening of the issue, approved the preliminary placement document dated April 9, 2026, and established the floor price based on SEBI ICDR Regulations pricing formula.

Regulatory Framework and Pricing

The QIP is being conducted under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Sections 42, 23(1)(b) and 62(1)(c) of the Companies Act, 2013. April 9, 2026 serves as the relevant date for pricing purposes under Regulation 171(b)(i) of the SEBI ICDR Regulations.

The final issue price will be determined by the company in consultation with appointed book running lead managers. Under regulatory provisions and shareholder approval obtained through special resolution on February 19, 2026, the company may offer a discount of up to 5% on the calculated floor price.

Prior Approvals and Trading Window

The QIP received initial Board of Directors approval at the meeting held on January 16, 2026. Shareholders subsequently approved the placement through a special resolution passed via postal ballot on February 19, 2026. The company has implemented trading window restrictions for designated persons as per its Code of Conduct for Prohibition of Insider Trading, with the trading window already closed for all designated persons and their immediate relatives.

The preliminary placement document dated April 9, 2026, along with the application form format, has been filed with stock exchanges as part of the regulatory compliance process under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.