Poonawalla Fincorp Ltd (PFL) has announced the successful completion of its qualified institutions placement (QIP), raising ₹2,500 crore. The issue saw strong participation from institutional investors and long-term funds, reflecting continued confidence in the company’s strategy and growth outlook.
Issue details and pricing
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.
Robust investor participation
The QIP, which opened on April 9, 2026, and closed on April 13, 2026, saw subscriptions from a diversified pool of investors, including domestic mutual funds (MFs), domestic insurance companies, and foreign institutional investors (FIIs).
Advisors to the transaction
Kotak Mahindra Capital Company, Jefferies India, and J P Morgan India 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.
Company overview
PFL 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 ago and is listed on BSE and NSE. It has assets under management (AUM) of ₹55,017 crore as of December 31, 2025, and employs 5,264 people