Poonawalla Fincorp Limited to Redeem NCDs Through Exercise of Call Option
Poonawalla Fincorp Limited has announced its intention to redeem a portion of its outstanding debt by exercising a call option on Non-Convertible Subordinated Perpetual Debt (NCDs). The company plans to redeem the NCDs in full on July 3, 2026, along with all accrued interest.The debt concerned, rated as 12.10% Non-Convertible, Subordinated, Perpetual Debt in the nature of Debentures, was issued to the company on a private placement basis. The total principal amount aggregating to Rs. 1,70,00,000/- (Rupees One Crore-Seventy Lacs only) was comprised of 34 Rated, Listed, Unsecured NCDs, with a face value of Rs. 5,00,000/- each. The initial allotment date for the debt was July 5, 2016.
The company confirmed that the NCDs have a call option that becomes available after the instrument has run for a minimum period of 10 years from the date of issue.
The details regarding the debt and the scheduled redemption timeline are presented below:
| Nature of Security | ISIN | Principal Amount | Call Premium | Record Date | Call Option Date |
|---|---|---|---|---|---|
| 12.10% Rated, Non-Convertible, Subordinated, Perpetual Debt | INE511C08951 | Rs. 1,70,00,000 | N.A. | June 18, 2026 | July 3, 2026 |
The redemption amount payable to the debenture holders will be the face value of Rs. 5,00,000/- per NCD plus any interest accrued thereon, collectively referred to as the redemption amount.
The record date fixed for determining eligible debenture holders is June 18, 2026. The redemption and repayment date is set for Friday, July 3, 2026. The redemption amount will be paid by crediting the funds to the bank account registered in the demat account of the respective debenture holders.
The company stated that upon the exercise of the Call Option and payment of the redemption amount, the NCDs will be fully extinguished.
POONAWALLA Stock Price Movement
On Monday, Poonawalla Fincorp Limited shares edged higher to close at ₹392.25, posting a gain of 2.86% for the session. The stock saw considerable buying interest, recording a total volume of 1.60 million shares throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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