Manappuram Finance has received an approval for issuance of the Private Placement of 2000 Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each aggregating to Rs 200 crore. The Financial Recourse and Management Committee of the Board of Directors of the company at its meeting held on November 07, 2019, approved the same.
The Financial Recourse and Management Committee of the Board of Directors also approved allotment of 2500 Secured, Rated, Listed, Redeemable Non-Convertible Debentures of face value of Rs 10 lakh each, aggregating to Rs 250 crore on a Private Placement basis.
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.