Manappuram Finance Plans To Raise Up To Rs 350 Crore Via NCDs

Manappuram Finance Ltd. on Thursday said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures on private placement basis.

The financial resources and management committee of the company’s board of directors of the company have 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.

Another meeting of the committee will be held on Dec. 31 to consider the proposed allotment for the said issue, the filing added.