Manappuram Finance has raised Rs 250 crore through Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) and allotted 6.95% p.a, 2500 NCDs having face value of Rs 10 lakh each on private placement basis to be listed on BSE.
The net proceeds from the subscription of the NCDs shall be exclusively utilized for refinancing of existing debt, augment the resources of the company and towards onward lending in gold loan, loan against properties, vehicle financing. Provided that the Subscription Amount shall be utilized only for the purposes permitted by RBI for bank finance and shall not be utilized for investment in any capital market, real estate, on lending, speculative purposes and other activities not permitted by RBI for bank finance.
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.
Company Name | CMP |
---|---|
Bajaj Finance | 6740.00 |
Shriram Finance | 2366.85 |
Aditya Birla Capital | 223.45 |
SBI Cards AndPayment | 714.50 |
Chola Invest & Fin. | 1280.40 |
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