Manappuram Finance To Raise Rs 150 Crore Via NCDs

On Wednesday, Manappuram Finance in a regulatory filing said that its board has approved raising up to Rs 150 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The board of directors of the non-banking financial company (NBFC) has approved the issuance of market-linked, rated, secured, redeemable non-convertible debentures for Rs 100 crore with an option to retain oversubscription up to Rs 50 crore aggregating to Rs 150 crore on private placement route.

Manappuram Finance said its board also approved allotment of 1,000 secured rated redeemable non-convertible debentures having the face value of Rs 10 lakh each aggregating to Rs 100 crore on a private placement basis.

The non-convertible debentures are to be listed on BSE, it said.

Shares of Manappuram Finance closed 2.5 percent higher at Rs 159.90 on NSE.