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Manappuram Finance gets approval to raise Rs 50.50 crore via NCDs

02 Aug 2018 Evaluate

Manappuram Finance has received an approval for raising funds worth Rs 50.50 crore, through allotment of 505 Secured Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each on Private Placement basis. The Board of Directors of the company at its meeting held on July 31, 2018, approved the same.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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