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Manappuram Finance to raise up to Rs 465 crore via NCDs

Manappuram Finance has received approval for issuance of the private placement of rated, secured, redeemable non-convertible debentures (NCDs) for an amount of Rs 215 crore with an option to retain over subscription up to Rs 250 crore aggregating to Rs 465 crore. The Financial Resources and Management Committee of the Board of Directors of the company’s meeting will be held on September 26, 2019 to consider the proposed allotment for the said issue.

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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