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Manappuram Finance gains on planning to raise Rs 200 crore via NCDs

Manappuram Finance is currently trading at Rs. 166.50, up by 0.25 points or 0.15% from its previous closing of Rs. 166.25 on the BSE.

The scrip opened at Rs. 166.25 and has touched a high and low of Rs. 167.70 and Rs. 165.20 respectively. So far 34992 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 173.85 on 04-Nov-2019 and a 52 week low of Rs. 77.50 on 06-Dec-2018.

Last one week high and low of the scrip stood at Rs. 173.85 and Rs. 162.35 respectively. The current market cap of the company is Rs. 14102.49 crore.

The promoters holding in the company stood at 35.12%, while Institutions and Non-Institutions held 49.20% and 15.68% respectively.

Manappuram Finance is planning to raise Rs 200 crore by issue of 2000 Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) having face value of Rs 10 lakh each. In this regard, the meeting of the Financial Resources and Management Committee of the Board of Directors of the company will be held on November 18, 2019.

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.

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