Poonawalla Fincorp's board to mull fund raising on 31st Jan

Poonawalla Fincorp announced that its board will meet on Friday, 31st January 2025, to consider raising funds through the issuance of non-convertible debt securities.

The company will raise Rs 10,000 crore through non-convertible debt securities on private placement basis during the FY26. Additionally, the board will also consider and approve the un-audited financial results for the quarter and nine months ended 31 December 2024.

Poonawalla Fincorp 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 companys financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain finance, machinery loans, medical equipment loans and consumer loans. It has AUM of Rs 28,396 crore as on 30 September 2024, and employs around 2560 people.

The company reported consolidated net loss of Rs 471.04 crore in Q2 FY25 as compared with net profit to Rs 860.17 crore in Q2 FY24. Total income declined 36.4% YoY to Rs 996.50 crore in Q2 FY25.

The counter declined 4.74% to end at Rs 316.80 on Friday, 24 January 2025.

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