Manappuram Finance surges over 4% on launch of public issue

Posted By: Religare
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Manappuram Finance surges over 4% on launch of public issue
Shares of gold loan company Manappuram Finance jumped over 4 per cent in early trade on Bombay Stock Exchange (BSE) after company announced another public issue of secured, redeemable, non-convertible debentures amounting to Rs 100 crore to finance capital expenditure.

Buoyed by development, shares of company gained as much as 4.44 per cent to trade at Rs 23.50 a piece on the BSE. In a similar fashion, shares of the company advanced 1.33 per cent to Rs 22.90 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 21,375.31, up 98.45 points or 0.46 per cent at 10:15 hours.

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