Poonawalla Fincorp Secures Rs 2,500 Crore via Qualified Institutional Placement to Support Lending Expansion

Poonawalla Fincorp Raises Rs 2,500 Crore Through QIP

Poonawalla Fincorp Ltd has successfully completed a qualified institutions placement (QIP), raising Rs 2,500 crore to support growth opportunities, expand lending operations, and diversify its asset portfolio. The company issued 6.74 crore equity shares with a face value of Rs 2 each at an issue price of Rs 370.75 per share.

The QIP, which opened on April 9 and closed on April 13, received participation from a diverse set of institutional investors, including domestic mutual funds, insurance companies, and foreign institutional investors. This strong investor interest is a testament to the company's strategy and growth outlook, indicating continued confidence in its business model.

The QIP issue price reflects a 5 percent discount to the floor price of Rs 390.26 per share. The book running lead managers for the issue were Kotak Mahindra Capital Company Ltd, Jefferies India Pvt Ltd, and J.P. Morgan India Pvt Ltd. Shardul Amarchand Mangaldas & Co. served as the legal counsel to the company, while Cyril Amarchand Mangaldas and Sidley Austin Singapore Pte Ltd advised the lead managers.

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As of December 31, 2025, Poonawalla Fincorp, a Cyrus Poonawalla Group-promoted non-deposit taking systemically important NBFC, had assets under management of Rs 55,017 crore. The company offers a range of financial products, including loans against property, gold loans, personal loans, education loans, and business loans.