<ul><li>Poonawalla Fincorp shares rose nearly 3% after its board approved plans to raise Rs 500 crore by issuing non-convertible debentures (NCDs).</li><li>The NCDs will have a face value of Rs One Lakh and Poonawalla Fincorp will issue 50,000 secured, redeemable, rated, listed, non-convertible debentures in series 'C2' for fiscal 2025-2026.</li><li>In May, the company had approved the issuance of NCDs up to Rs 2,500 crore, with a base issue of Rs 1,125 crore for fiscal year 2025-26.</li><li>The company's shares reached an 11-month high of Rs 433.70 apiece, with analysts' consensus price target implying a downside of 8.8%.</li></ul>

Poonawalla Fincorp Shares Hit 11-Month-High After Board Approves Plans To Raise Rs 500 Crore Through NCDs

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