Poonawalla Fincorp Limited Announces Voting Results of Postal Ballot

Strategic Insights -

Poonawalla Fincorp Limited, a leading non-banking financial company (NBFC), has announced the voting results of a postal ballot conducted through remote e-voting. The postal ballot was designed to seek approval from the company's shareholders on three special resolutions, including the issuance of equity shares on a preferential basis and the creation of security charges on the company's properties. The resolutions have been passed with the requisite majority, paving the way for the company to proceed with its proposed plans.

Key Takeaways:

  • The company has proposed to issue, offer, and allot equity shares aggregating to Rs. 1,499,98,47,636.02 on a preferential basis to Rising Sun Holdings Private Limited, a promoter of the company.
  • The company has sought approval for borrowing powers of the Board of Directors under Section 180(1)(c) of the Companies Act, 2013, up to Rs. 75,000 Crore.
  • The company has also proposed the creation of security charges on its movable and immoveable properties under Section 180(1)(a) of the Companies Act, 2013, in respect of borrowings.

The scrutiny report submitted by Mr. Girish Bhatia, a practicing company secretary, indicates that the resolutions have been passed with the requisite majority by the members through the remote e-voting process. The final date of the remote e-voting process was Sunday, August 24, 2025. The company has made the results available on its website, www.poonawallafincorp.com.

Statistics:

  • The proposed issue of equity shares aggregates to Rs. 1,499,98,47,636.02 (Rupees One Thousand Four Hundred Ninety-Nine Crore Ninety-Eight Lakh Forty-Seven Thousand Six Hundred and Thirty-Six and Two Paise only).
  • The company has sought approval for borrowing powers up to Rs. 75,000 Crore (Rupees Seventy-Five Thousand Crore only).
  • The company has proposed the creation of security charges on its properties worth an undisclosed amount.

Sources:

  • National Stock Exchange of India, Corporate Announcement dated August 25, 2025
  • Poonawalla Fincorp Limited, Registered Office, August 25, 2025 (letter dated July 25, 2025 and August 22, 2025)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015