Manappuram Finance has raised Rs 850 crore through allotment of rated, subordinated, unsecured, listed, transferable, redeemable non-convertible debentures (NCDs) having face value of Rs 1,00,000 each, on private placement basis. The NCDs are proposed to be listed on BSE.
The company has allotted 25,000 Series A NCDs carrying a coupon rate of 9.05% per annum and tenure of 6 years. Additionally, the company has allotted 60,000 Series B NCDs carrying a coupon rate of 9.10% per annum and tenure of 3650 days.
Manappuram Finance is a Systemically Important Non-Deposit taking Non Banking Finance Company (NBFC). The company provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc.
