Non-bank lender Poonawalla Fincorp Ltd. has successfully completed its ₹2,500 crore Qualified Institutional Placement (QIP) by issuing 6.74 crore equity shares to eligible institutional buyers. According to reports from CNBC TV18, the board approved the issue of shares carrying a face value of ₹2 each at a issue price of ₹370.75 per share. This represents a 5% discount to the QIP floor price of ₹390.26, demonstrating the company's ability to attract institutional investors at attractive valuations.
Multiple prominent financial institutions participated in the QIP, with Kotak Mutual Fund schemes holding the largest allocation at 24% of QIP shares. As reported by CNBC TV18, other significant participants included Nippon India MF with 13.6% allocation, Societe Generale at 9.3%, ICICI Prudential Life Insurance at 7%, and HDFC Life Insurance at 6.7%. Bandhan MF schemes secured 6% allocation, while Franklin India Midcap Fund received 5% of the reserved shares. Domestic mutual funds, insurance companies, and foreign investors all participated in the placement.
Following the allotment, Poonawalla Fincorp's paid-up equity share capital increased to ₹176.04 crore, comprising 88.02 crore shares compared to the previous ₹162.56 crore with 81.28 crore shares. According to the company filing, Kotak Mahindra Capital, Jefferies India Pvt. Ltd., and JPMorgan India Pvt. Ltd. served as Book Running Lead Managers for the QIP. Legal counsel was provided by Shardul Amarchand Mangaldas & Co. for the company and Cyril Amarchand Mangaldas and Sidley Austin Singapore Pte. Ltd. for the lead managers.
Despite the successful QIP completion, Poonawalla Fincorp shares ended 2.2% higher on Monday, showing a recovery of nearly 6% from its intraday low. However, as reported by CNBC TV18, the stock remains 28% below its 52-week high of ₹570 and has corrected over 15% so far in 2026, indicating ongoing market challenges despite the successful fundraising exercise.
