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Manappuram Finance gets nod to raise Rs 200 crore

12 Oct 2020 Evaluate

Manappuram Finance has received approval for the issuance of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10 lakh each for and amount of Rs 10 crore with an option to retain over subscription upto Rs 190 crore aggregating to Rs 200 crore on private placement route. The Financial Resources and Management Committee of the Board of Directors of the company at its meeting held on October 10, 2020 has 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.

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