Poonawalla Fincorp Gets 'AAA' Rating From CRISIL On ₹87.5 Billion Debt

CRISIL Ratings has assigned a 'AAA' rating with a stable outlook to Poonawalla Fincorp's ₹7.50 billion subordinated debt and ₹80 billion of non-convertible debentures, the company said in an exchange filing Friday.

The ratings agency also reaffirmed the 'AAA' rating on existing debt instruments worth ₹105.05 billion, including ₹6.10 billion and₹4.95 billion of subordinated debt and two tranches of non-convertible debentures worth ₹27 billion and ₹67 billion. Additionally, CRISIL reaffirmed the 'AA+' rating on ₹2 billion perpetual bonds and the 'A1+' rating on ₹75 billion of commercial paper.

CRISIL said the ratings reflect the lender's strategic importance to Rising Sun Holdings Pvt. Ltd., the investment arm of the Cyrus Poonawalla Group led by Adar Poonawalla. Rising Sun held a 62.53% stake in the company as of March 31, 2025.

The agency said its rating also factors in Rising Sun's intent to retain majority shareholding and control, provide capital support when needed, and maintain strong strategic and management linkages with Poonawalla Fincorp.