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Manappuram Finance gets nod to raise Rs 150 crore through NCDs

28 Jul 2020 Evaluate

Manappuram Finance has received approval from board of directors for issuance of the Private Placement of Rated, Secured, Redeemable Non Convertible Debentures (NCDs) having face value of Rs10 lakh each for the amount of Rs 150 crore with an option to retain over subscription up to Rs 350 crore aggregating to Rs 500 crore.

The Board of Directors of company at its meeting held on July 28, 2020 has approved the issuance.

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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