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New Delhi, [India] April 14: Poonawalla Fincorp Ltd. on Tuesday said that it successfully raised Rs. 2500 crores through Qualified Institutions Placement (QIP). The issue saw strong participation from institutional investors, long-term funds, reflecting continued confidence in the company's strategy and growth outlook, according to an exchange filing by the company.
"The Company issued 67,430,883 equity shares of face value 2 each to Qualified Institutional Buyers ("QIBs") at an issue price of 370.75 per equity share. The issue price represents a 5% discount to the floor price of 390.26 per equity share, resulting in aggregate proceeds of 2,500 Crore," the press release said. The company said the QIP opened on April 9, and closed on April 13 and it attracted subscription from a diversified pool of investors, including Domestic Mutual Funds ("MFs"), Domestic Insurance Companies, and Foreign Institutional Investors ("FIIs"). Kotak Mahindra Capital Company Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited acted as the Book Running Lead Managers to the QIP. Shardul Amarchand Mangaldas & Co. acted as legal counsel to the Company, while Cyril Amarchand Mangaldas (Indian law) and Sidley Austin Singapore Pte. Ltd. (United States law) acted as legal counsels to the Book Running Lead Managers. Poonawalla Fincorp said it has AUM of Rs. 55,017 crore as on December 31, 2025, and employs 5,264 people as of December 31, 2025. The company's financial services offerings include Loan Against Property, Gold Loans, Prime Personal Loans, Education Loans, Consumer Durable Loans, Business Loans, Instant Consumer Loans, Commercial Vehicle Loans, Mid-Market, Supply Chain Finance & NBFC Loans, Pre-Owned Car Finance, Loans for Professionals, Machinery Loans and Shopkeeper Loans. The company 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 started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). (ANI)
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