Manappuram Finance has received approval from board of directors to raise Rs 800 crore through issuance of Listed, Secured, Rated, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each for an amount of Rs 200 crore with an option to retain over subscription upto Rs 600 on private placement basis. Financial Resources and Management Committee of the Board of Directors at its meeting held on January 17, 2022 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.