Manappuram Finance board aproves ₹ 400 crore fund raise via bonds

Shares of Manappuram Finance were trading 0.63% higher at ₹174.85 apiece on the BSE.

Manappuram Finance on Thursday said it has approved raising ₹400 crore by issuing bonds on private placement basis.

The Financial Resources and Management Committee of the board of directors of the company at its meeting held on December 17 approved issuance of non-convertible debentures (NCDs), Manappuram Finance said in a regulatory filing.

The secured, rated, listed and redeemable NCDs are for an amount of ₹100 crore with an option to retain oversubscription up to ₹300 crore, aggregating to ₹400 crore on a private placement route.

Shares of Manappuram Finance were trading 0.63% higher at ₹174.85 apiece on the BSE on Thursday.

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