Manappuram Finance has received approval from Board of Directors to raise Rs 300 crore through issuance of the private placement of Rated, Secured, Redeemable Non Convertible Debentures (NCDs). The Financial Resources and Management Committee of the Board of Directors of the company at their meeting held July 06, 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.