India New Issue-Poonawalla Fincorp to issue multiple tenor bonds, bankers say

Poonawalla Fincorp

16/04/2025 03:52

MUMBAI, April 16 (Reuters) - India's Poonawalla Fincorp POON.NS plans to raise 18.75 billion rupees ($218.8 million), which includes a greenshoe option of 5 billion rupees, through a sale of bonds maturing in two years and in three years, two merchant bankers said on Wednesday.

The company will pay a coupon of 7.65% on the two-year and 7.70% on the three-year paper, and has invited bids from investors and bankers on Thursday, the bankers said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on 16:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Poonawalla Fincorp
2 years
7.65
11.60
April 17
AAA (Crisil)
Poonawalla Fincorp
3 years
7.70
2.15+5
April 17
AAA (Crisil)

*Size includes base plus greenshoe for some issues

($1 = 85.6970 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

((Dharamraj.dhutia@tr.com))