Poonawalla Fincorp Approves Rs 1,500-Crore Share Allotment To Promoter
Out of the seven analysts tracking the company, four have a 'buy' rating on the stock.
Poonawalla Fincorp's board of directors allotted equity shares amounting to Rs 1,500 crore to promoter Rising Sun Holdings Pvt., according to a press release from the company on Wednesday.
The firm approved the allotment of 3.31 crore equity shares with an issue price of Rs 452.51 per equity share with a face value of Rs 2 each.
"The company has received in-principle approval from the National Stock Exchange of India Ltd. and Bombay Stock Exchange Ltd. dated Sept.15, 2025, in relation to the issue of the aforesaid equity shares on a preferential basis, in accordance with Securities and Exchange Board of India," the release said.
The company, by issuing an additional 3.32 crore shares, raised its total share capital from Rs 156 to Rs 162 crore (by about Rs 6.63 crore).
FY26 Q1 Results
Poonawalla Fincorp reported 78.4% decline in net profit at Rs 63 crore for the first quarter of fiscal 2026, due to higher expenditure. The non-banking financial company had a net profit of Rs 292 crore in the June quarter of fiscal 2025. Poonawalla Fincorp said in an exchange filing that its total income rose to Rs 1,314 crore in the quarter from Rs 996 crore a year ago. Total expenses more than doubled to Rs 1,231 crore from Rs 606 crore.
Shares of Poonawalla Fincorp closed 1.34% higher at Rs 447.1 apiece on the NSE, compared to a 0.36% rise in the benchmark Nifty. The stock had risen 11.72% in the last 12 months and 42.23% on a year-to-date basis.
Out of the seven analysts tracking the company, four have a 'buy' rating on the stock, one recommends 'hold' and two suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential downside of 1.4%.
