Manappuram Finance planning to raise Rs 500 crore through NCDs

Manappuram Finance is planning to raise Rs 500 crore through Secured, Rated Redeemable Non-Convertible Debentures (NCDs) for Rs 100 crore with an option to retain oversubscription upto Rs 400 crore and in this regard company’s board of directors holding a meeting of Financial Resources and Management Committee on December 24, 2021. The above issuance is pursuant to the approval of the Board of Directors resolution passed at its meeting held on March 19, 2021.

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.