Poonawalla Fincorp to Launch Qualified Institutions Placement; Floor Price Set at ₹390.26
Poonawalla Fincorp Limited announced key outcomes following the meeting of its Committee of Directors concerning a Qualified Institutions Placement of fully paidup equity shares. The company confirmed that resolutions were passed to authorize the opening of the Issue on April 9, 2026.The Committee of Directors meeting, which took place on April 9, 2026, approved and adopted the preliminary placement document dated April 9, 2026, along with the format of the application form for the Issue.
The company also established the floor price for the Issue at ₹390.26 per Equity Share, based on the pricing formula prescribed under the SEBI ICDR Regulations.
Key Details of the Issue
The preliminary placement document, dated April 9, 2026, was filed with the respective exchanges. The Issue price for the equity shares will be determined by Poonawalla Fincorp Limited in consultation with the book running lead managers appointed for the transaction.The relevant date for the purpose of the Issue, as per the SEBI ICDR Regulations, was determined as April 9, 2026. Consequently, the floor price calculated under the specified regulations is ₹390.26 per Equity Share. Furthermore, the company noted that pursuant to the shareholder special resolution passed via postal ballot on February 19, 2026, the company may offer a discount of not more than 5% on this calculated floor price.
Board Approvals and Trading Window
The authority for the Issue stemmed from the Board of Directors meeting held on January 16, 2026, and a special resolution passed by the shareholders on February 19, 2026.The Committee of Directors meeting commenced at 6:50 p.m. and concluded at 7:05 p.m.
Regarding insider trading protocols, the trading window for dealing in the securities of Poonawalla Fincorp Limited was reported as having already been closed for all Designated Persons as defined in the Company's Code of Conduct for Prohibition of Insider Trading.
For reference, the following table summarizes some of the procedural and corporate details.
| Detail | Value |
|---|---|
| Company Name | Poonawalla Fincorp Limited |
| CIN | L51504PN1978PLC209007 |
| Date of Committee Meeting | April 9, 2026 |
| Floor Price per Share | ₹390.26 |
| Relevant Date | April 9, 2026 |
| Maximum Discount Allowed | 5% |
POONAWALLA Stock Price Movement
Shares of Poonawalla Fincorp Limited today slipped by 2.84% to settle at ₹401.75. The stock traded on a volume of 4.83 million shares, marking notable movement throughout the session.Source:
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