Poonawalla Fincorp Limited has released details of its related party transactions for the half-year ended September 30, 2022, highlighting key financial movements across its group entities. The disclosures include significant investments, dividend payments, and portfolio adjustments.
Key Highlights
- Equity Investment: ₹819.71 crore in Poonawalla Housing Finance Limited (subsidiary)
- Dividend Payment: ₹18.82 crore to Rising Sun Holdings Pvt. Ltd. (parent company)
- Stake Sale: ₹361.03 crore in Magma HDI General Insurance Co. Ltd. to Sanoti Properties LLP
- Loans & Advances: ₹20.06 crore to Magma HDI General Insurance Co. Ltd.
- NCD Subscription: ₹75 crore in Magma HDI General Insurance Co. Ltd.
The substantial investment in Poonawalla Housing Finance highlights the company’s continued focus on expanding its housing finance portfolio, while the stake sale in Magma HDI indicates a strategic rebalancing of its investments within the group.
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