Manappuram Finance has received approval to raise funds through issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures (NCD) for Rs 100 crore with an option to retain oversubscription upto Rs 400 crore aggregating to Rs 500 crore.
The Financial Resources and Management Committee of the Board of Directors of the Company held on April 27, 2020 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.