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Manappuram Finance board aproves ₹ 400 crore fund raise via bonds

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Shares of Manappuram Finance had been buying and selling 0.63% larger at ₹174.85 apiece on the BSE.

Manappuram Finance on Thursday mentioned it has accepted elevating ₹400 crore by issuing bonds on personal placement foundation.

The Financial Resources and Management Committee of the board of administrators of the corporate at its assembly held on December 17 accepted issuance of non-convertible debentures (NCDs), Manappuram Finance mentioned in a regulatory submitting.

The secured, rated, listed and redeemable NCDs are for an quantity of ₹100 crore with an choice to retain oversubscription as much as ₹300 crore, aggregating to ₹400 crore on a non-public placement route.

Shares of Manappuram Finance had been buying and selling 0.63% larger at ₹174.85 apiece on the BSE on Thursday.

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