Manappuram Finance board gives nod to raise Rs 400 crore via bonds

Manappuram Finance on Thursday said it has approved raising Rs 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 Rs 100 crore with an option to retain oversubscription up to Rs 300 crore, aggregating to Rs 400 crore on a private placement route.

Shares of Manappuram Finance were trading 0.63 per cent higher at Rs 174.85 apiece on the BSE on Thursday.

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