Manappuram Finance has received an approval for raising funds up to an aggregate value of Rs 10 crore through issue of unlisted unrated secured Non-Convertible debentures (NCDs) having a face value of Rs 1000 each on a private placement basis.
The meeting of the Financial Resources and Management Committee of the Board of Directors of the company held on December 11, 2018, has 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.