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Manappuram Finance plans to raise up to Rs 350 crore via issuance of NCDs

Another meeting of the financial resources and management committee of the board of directors of the company will be held on December 31, to consider the proposed allotment for the said issue

December 26, 2019 / 12:29 PM IST
 
 
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Manappuram Finance Ltd on December 26 said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The financial resources and management committee of the board of directors of the company on December 26 approved the issuance of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakh each for the amount of Rs 350 crore, Manappuram Finance said in a regulatory filing.

Furthermore, another meeting of the financial resources and management committee of the board of directors of the company will be held on December 31, to consider the proposed allotment for the said issue, the filing said.

The shares of Manappuram Finance were trading at Rs 172.35, down 0.14 percent on BSE.



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PTI
first published: Dec 26, 2019 12:24 pm
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