Poonawalla Fincorp has launched a qualified institutional placement (QIP) issue with an initial size of ₹2,500 crore, according to sources familiar with the development. The fundraise comes as the company looks to strengthen its capital base and support future growth initiatives.
Sources indicate that the indicative floor price for the issue has been set at ₹390.26 per share, in line with regulatory pricing norms. The company may offer a discount of up to 5% on the floor price, as permitted under SEBI regulations.
The QIP is expected to see strong investor interest, with the possibility of the issue being upsized depending on demand. Market participants are closely tracking subscription levels and institutional participation as the offering progresses.
Earlier in the day, the company informed exchanges about the opening of the issue and approval of the preliminary placement document by its Committee of Directors. The floor price was determined in accordance with SEBI’s ICDR regulations based on the relevant date of April 9, 2026.
The capital raised through the QIP is expected to be utilised for business growth and strengthening the company’s lending operations.