New Delhi: Manappuram Finance informed the stock exchanges that it has approved the raising of ₹400 crore by private placement of bonds.
The board’s financial resources and management panel approved the issuance of non-convertible debentures (NCDs) at its meeting on 17 December, Manappuram Finance said in an exchange filing.
The rated, secured, redeemable and listed NCDs are for ₹100 crore with an option to retain oversubscription up to ₹300 crore, aggregating to ₹400 crore on a private placement route.
Shares of Manappuram Finance ended trading on Thursday 0.26% higher at ₹174.25 apiece on BSE.