In a bid to meet working capital requirements, Manappuram Finance is planning to mop up Rs 200 crore through issue of non-convertible debentures (NCDs). The NCD issue is aggregating up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore for issuance of additional NCDs aggregating to a total of up to Rs 200 crore.
The raised amount will be used to meet the company’s capital expenditure and working capital requirements. ICICI Securities is the lead manager to the issue and the issue would be listed on the BSE.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh.
