Manappuram Finance has raised Rs 800 crore through the allotment of Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 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 and vehicle financing. Financial Resources and Management Committee of the Board of Directors of the company at its meeting held on January 28, 2022 approved the allotment of 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.
