Manappuram Finance has raised Rs 250 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 July 09, 2020, has approved the allotment of 2500 Secured redeemable Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each. The said NCDs to be listed on the Bombay Stock Exchange (BSE).
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.