Manappuram Finance Raises Rs 350 Crore By Issuing Bonds

Manappuram Finance Ltd. on Tuesday said it has raised Rs 350 crore by issuing bonds on private placement basis.

The Financial Recourse and Management Committee of the company's board has approved allotment of 3,500 secured, rated, listed, redeemable non-convertible debentures of face of Rs 10 lakh each, aggregating to Rs 350 crore, according to a Bombay Stock Exchange filing.

The proposal for issuance of bonds on private placement basis was approved at a board meeting held on Dec. 31, it added.