Manappuram Finance has received an approval for the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each for the amount of Rs 350 crore. The Financial Resources and Management Committee of the Board of Directors of the company on December 26, 2019, approved the same.
Furthermore, the Financial Resources and Management Committee of the Board of Directors of the Company will be held on December 31, 2019 to consider the proposed allotment for the said issue.
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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