Manappuram to raise Rs 150 cr via NCDs

Gold mortgage firm Manappuram Finance will raise Rs 150 crore through secured redeemable non-convertible debentures on a private placement basis.

"The company is proposed to issue secured redeemable non-convertible debentures for Rs 100 crore with a green shoe option of Rs 50 crore aggregating to Rs 150 crore on private placement basis," the company said in a regulatory filing.

Manappuram said it plans to allot the debentures on July 28.

The company which basically started as a gold loan company has today expanded and ventured into foreign exchange and money transfer as part of diversification.