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Poonawalla Fincorp Limited has successfully completed its qualified institutions placement (QIP), raising ₹2,500 crore through the issuance of 67,430,883 equity shares. The QIP, which opened on April 9, 2026, and closed on April 13, 2026, was priced at ₹370.75 per equity share, representing a 5% discount to the floor price of ₹390.26 per share.
QIP Transaction Details
The fundraising saw strong participation from institutional investors, including domestic mutual funds, domestic insurance companies, and foreign institutional investors. The company issued fully paid-up equity shares with a face value of ₹2 each to qualified institutional buyers.
Parameter: Details Total Amount Raised: ₹2,500 crore (~USD 270 million) Number of Shares Issued: 67,430,883 equity shares Issue Price: ₹370.75 per equity share Floor Price: ₹390.26 per equity share Discount Applied: 5% on floor price Face Value: ₹2 per equity share Issue Period: April 9-13, 2026
Regulatory Framework and Approvals
The QIP was conducted under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and relevant sections of the Companies Act, 2013. The placement received initial Board of Directors approval on January 16, 2026, followed by shareholder approval through special resolution via postal ballot on February 19, 2026.
Regulatory Aspect: Details Relevant Date: April 9, 2026 Board Approval Date: January 16, 2026 Shareholder Approval Date: February 19, 2026 Maximum Discount Permitted: Up to 5% on floor price USD Exchange Rate: ₹92.65 per USD
Investment Banking and Legal Advisory
Kotak Mahindra Capital Company Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited served as Book Running Lead Managers for the QIP. Shardul Amarchand Mangaldas & Co. acted as legal counsel to the company, while Cyril Amarchand Mangaldas and Sidley Austin Singapore Pte. Ltd. provided legal counsel to the Book Running Lead Managers.
Company Profile and Financial Position
Poonawalla Fincorp Limited operates as a non-deposit taking systemically important non-banking finance company registered with the Reserve Bank of India. As of December 31, 2025, the company maintained assets under management of ₹55,017 crore and employed 5,264 people across its operations.
Business Metrics: Details AUM (Dec 31, 2025): ₹55,017 crore Employee Count: 5,264 people Business Vintage: Nearly three decades RBI Classification: ND-SI-NBFC Stock Exchange Listing: BSE and NSE
The company's diversified financial services portfolio includes loan against property, gold loans, personal loans, education loans, business loans, commercial vehicle loans, and various other lending products targeting different customer segments.
Kotak Mahindra Mutual Fund has disclosed crossing the 5% shareholding threshold in Poonawalla Fincorp Limited following a recent acquisition of equity shares through open market transactions. The disclosure was made in compliance with SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011.
Share Acquisition Details
The mutual fund acquired 702,046 additional equity shares of Poonawalla Fincorp on April 07, 2026, through open market purchases. This acquisition increased Kotak Mahindra Mutual Fund's total holding in the company from 40,128,440 shares to 40,830,486 shares.
Parameter: Before Acquisition After Acquisition Change Number of Shares: 40,128,440 40,830,486 +702,046 Percentage Holding: 4.9370% 5.0233% +0.0864% Voting Rights: 4.9370% 5.0233% +0.0864%
Regulatory Compliance
The acquisition triggered the mandatory disclosure requirement under Regulation 29(1) of SEBI SAST Regulations as the mutual fund's holding crossed the 5.00% threshold. Kotak Mahindra Mutual Fund confirmed that it does not belong to the promoter or promoter group of Poonawalla Fincorp Limited.
Company Profile
Poonawalla Fincorp Limited's equity shares are listed on both BSE Limited and the National Stock Exchange of India Limited. The company has a total equity share capital of 81,28,17,658 equity shares of Rs. 2 each, which remained unchanged before and after the acquisition.
Investment Structure
The shares were acquired through various schemes of Kotak Mahindra Mutual Fund, with Kotak Mahindra Asset Management Company Limited serving as the investment manager. The acquisition was executed through regular open market transactions without any special features or conversion rights attached to the securities.
Acquisition Details: Information Mode of Acquisition: Open market Date of Acquisition: April 07, 2026 Shares Acquired: 702,046 Acquisition Percentage: 0.0864%
The disclosure was signed by Jolly Bhatt, Compliance Officer at Kotak Mahindra Asset Management Company Limited, and submitted to the stock exchanges for record.
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