Poonawalla Fincorp gets ₹1,500 crore cash boost from promoter
Poonawalla Fincorp just got a ₹1,500 crore cash boost from its main promoter, Rising Sun Holdings.
The board gave the green light earlier, with new shares issued at ₹452.51 each.
This bumps the promoter's stake to nearly 64% and pushes the company's net worth to ₹9,700 crore—fueling bigger plans ahead.
Focus on retail lending
Led by CEO Arvind Kapil, the company is all about growing its retail lending—think personal and education loans.
They're rolling out six new products, opening 400 branches this year (with 80 focused on gold loans), and expanding their reach from 3,000 to 12,000 distribution points.
Targeting ₹1.5 lakh crore AUM over next 4 years
Poonawalla Fincorp wants to hit ₹1.5 lakh crore AUM over four years and has upped its borrowing limits for extra firepower.
Plus, lower credit costs show they're keeping things stable while backing MSMEs.