Manappuram Finance has received approval for the Issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each for the amount of Rs 50 crore with an option to retain over subscription up to Rs 50 crore aggregating to Rs 100 crore. Financial Resources and Management Committee of the Board of Directors of the company at its meeting held on August 10, 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.