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Manappuram Finance gains on raising Rs 600 crore through NCDs

Manappuram Finance is currently trading at Rs. 156.15, up by 2.80 points or 1.83% from its previous closing of Rs. 153.35 on the BSE.

The scrip opened at Rs. 155.40 and has touched a high and low of Rs. 159.65 and Rs. 154.20 respectively. So far 434472 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 193.70 on 31-Jan-2020 and a 52 week low of Rs. 75.60 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 167.50 and Rs. 151.10 respectively. The current market cap of the company is Rs. 13335.79 crore.

The promoters holding in the company stood at 35.00%, while Institutions and Non-Institutions held 48.68% and 16.32% respectively.

Manappuram Finance has raised Rs 600 crore through Rated, Secured, Redeemable Non-Convertible Debentures (NCDs) and allotted 6000 NCDs having a face value of Rs 10 lakh on a Private Placement basis to be listed on the BSE. The Board of Directors of the company at its meeting held on January 28, 2021 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.

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