Manappuram Finance To Consider Rs 200 Crore Fundraising Plan On Nov. 7
A collection of large and small gold bullion bars sit inside a safety deposit box in Germany. (Photographer: Michaela Handrek-Rehle/Bloomberg)

Manappuram Finance To Consider Rs 200 Crore Fundraising Plan On Nov. 7

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Manappuram Finance Ltd. on Saturday said a committee of its board of directors will meet next week to consider a fundraising proposal.

The non-banking financial company plans to raise Rs 200 crore via issue of securities.

The meeting of the financial resources and management committee of the board will be held on Nov. 7 to "consider and approve the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures for the amount of Rs 200 Crores," the company said in a regulatory filing.

On Friday, Manappuram Finance shares rose 1.41 percent to Rs 172.10 apiece on the BSE while the benchmark Sensex gained 0.09 percent to end the day at 40,165.03 points.

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