POONAWALA FINCORP

surged as much as 12% to a 52-week high on Thursday, September 18, after the company's promoters completed a fund infusion announced earlier, thereby increasing their stake. The company announced that the promoter fund infusion of ₹1,500 crore, announced during the company's June quarter results on July 25, was completed on Wednesday. Poonawalla Fincorp's board has approved the issuance of 3.31 crore shares to the promoter, Rising Sun Holdings Pvt. Ltd. The fund infusion was done at a price of ₹452.51 per share, which is a premium to Poonawalla's closing price on Wednesday.