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Poonawalla Fincorp Raises INR1.55 Billion Through Debenture Allotment

-- Poonawalla Fincorp (NSE:POONAWALLA, BOM:524000) has raised 1.55 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis, according to a Friday filing to the Indian stock exchanges.

The company allotted 15,500 unsecured, redeemable, rated, listed, subordinated non-convertible debentures of a face value of 100,000 rupees each. The base issue size is 1.50 billion rupees with a green shoe option to retain oversubscription of 50 million rupees.

The debentures carry a coupon rate of 8.43% per annum and are scheduled to mature on April 24, 2036. They are proposed to be listed in the debt market segment of the BSE.

The company's shares were down nearly 2% in recent trade.

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