Manappuram Finance has raised Rs 150 crore on a private placement basis. The Financial Recourse and Management Committee of the Board of Directors of the company at its meeting held on June 23, 2020, has approved the allotment of 1500 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each.
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.