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

Adar Poonawalla, CEO of Serum Institute of India and Chairman of Poonawalla Fincorp, in an exclusive interview with Siddharth Zarabi of Business Today, has confirmed that the Poonawalla Group is planning to raise $1 billion in fresh capital by the end of 2025 to expand its operations within the Non-Banking Financial Company (NBFC) sector.

Adar Poonawalla is the son of industrialist Cyrus Poonawalla and the current CEO of the Serum Institute of India, the world’s largest vaccine manufacturer by volume. Under Adar’s leadership, the Serum Institute gained international prominence during the COVID-19 pandemic and is now exploring expansion beyond vaccines, specifically into sectors such as financial services, insurance, and real estate.

Poonawalla made it clear that this proposed fundraiser shall be introduced through either a Qualified Institutional Placement (QIP) or by bringing in a financial investor.

Poonawalla Fincorp has an existing asset base of around ₹35,000 crore and is now aiming for an aggressive growth trajectory of 30–40% annually, and the intended $1 Billion capital raise is slated to reinforce this target.

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The focus is not just on growth but on sustainable and well-capitalised expansion within the financial services sector. As per Poonawalla, the infusion will significantly strengthen the company’s position in the digital lending, SME finance, and personal loan segments, while capitalising on India’s robust and expanding credit demand.

The foray into financial services began with the 2021 acquisition of Magma Fincorp, a listed NBFC, which was subsequently rebranded as Poonawalla Fincorp. . Since the acquisition, the company has doubled its loan book and seen a significant increase in market capitalisation, reinforcing its credibility and execution capability in the NBFC space.

The business expansion of Poonawalla Fincorp is also indicative of a strategic pivot within the Group. While the Serum Institute of India remains the cornerstone of the business empire, the family is making inroads into financial services, real estate, and hospitality.

Market observers appreciate that the move is a timely and calculated diversification, in line with current macroeconomic conditions, and sustained focus on mid-to-high-yield segments and disciplined risk management.

Non-banking financial companies (NBFCs) continue to play a pivotal role in India’s credit ecosystem, particularly in reaching underserved markets and facilitating last-mile connectivity.

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