Debt financing
NBFC Poonawalla Fincorp raises Rs.150-Cr via NCDs
Mumbai-based non-banking financial company Poonawalla Fincorp has raised INR 150 crore through the allotment of 15,000 unsecured, subordinated, non-convertible debentures (NCDs) classified as Tier II capital.The debentures carry an annual coupon rate of 8.4308% and are set to mature on April 24, 2036. Each debenture holds a face value of INR 1 lakh. The instruments will be listed on the debt market segment of BSE. The newly raised capital is intended to bolster the lender’s capital resources.
For FY25, Magma Fincorp had reported about INR 4,190 Cr in Operating Income and about INR 98 Cr in Net Loss.
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