Poonawalla Fincorp Limited has raised ₹2,500 crore (around $270m) through a Qualified Institutions Placement (QIP), in a move aimed at strengthening its lending capacity and supporting future growth.
The Mumbai-based non-banking financial company said the share sale attracted strong interest from a range of institutional investors, including domestic mutual funds, insurance firms and foreign institutional investors. The company described the response as a sign of continued confidence in its strategy and long-term outlook.
Under the offering, Poonawalla Fincorp issued more than 67 million equity shares at a price of ₹370.75 each. This represented a discount of about 5% to the regulatory floor price, resulting in total proceeds of ₹2,500 crore. The issue opened on 9 April and closed on 13 April.
The funds raised will be used to expand the company’s lending operations and diversify its asset portfolio, as it looks to tap growing demand for retail and business financing in India.
The transaction was managed by several financial institutions, including Kotak Mahindra Capital Company Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited, which acted as book-running lead managers.
Poonawalla Fincorp is part of the Cyrus Poonawalla Group and operates as a systemically important non-deposit taking non-banking financial company regulated by the Reserve Bank of India.
The company offers a range of financial products, including personal loans, loans against property, vehicle financing and credit for small businesses. As of December 2025, it reported assets under management of more than ₹55,000 crore.
The capital raise comes as India’s financial sector continues to expand, with non-banking lenders playing an increasingly prominent role in meeting credit demand.
