Adar Poonawalla eyes Billion-Dollar Capital Raise to Boost NBFC Operations: Serum Institute CEO Speaks

Adar Poonawalla plans $1B NBFC fundraising - Adar Poonawalla, CEO of Serum Institute of India, is reportedly planning to raise over $1 billion (approximately ₹8,300 crore) for his Non-Banking Financial Company (NBFC), Poonawalla Fincorp. This substantial capital raise is aimed at scaling up the NBFC's operations, diversifying its lending products to target small businesses, MSMEs, and salaried professionals, and enhancing its digital lending capabilities through AI-based underwriting. The move signals a major expansion into the financial services sector for Poonawalla, aiming to position the NBFC as a significant player in India's credit market.