Poonawalla Fincorp Soars 14% to 52-Week High After Rs 1,500-Crore Promoter Fund Infusion

Shares of

alla Fincorp surged 14% on September 18, reaching a 52-week high of Rs 511.45, driven by a significant Rs 1,500-crore fund infusion from its promoter, Rising Sun Holdings Pvt. Ltd. The stock recorded its largest single-day gain in 10 months, reflecting strong market confidence in the company’s growth prospects. Promoter’s Strategic Investment Poonawalla Fincorp’s board approved the issuance of 3.31 crore equity shares to Rising Sun Holdings at Rs 452.51 per share. The transaction, executed on a preferential basis through private placement, underscores the promoter’s commitment to strengthening the company’s financial position. According to a stock exchange filing, the newly allotted shares will rank pari-passu with the existing equity shares, carrying equal rights in all respects.