Debt 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.
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For FY25, Magma Fincorp had reported about INR 4,190 Cr in Operating Income and about INR 98 Cr in Net Loss.