Manappuram Finance To Raise Up To Rs 465 Crore By Issuing Bonds
A man holds a two thousand Indian rupee banknote and a five hundred Indian rupee banknote for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Manappuram Finance To Raise Up To Rs 465 Crore By Issuing Bonds

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Manappuram Finance Ltd. on Monday said it will raise up to Rs 465 crore by issuing bonds on a private placement basis.

The decision was taken by the board of the company at its meeting.

"The financial resources and management committee of the board of directors of the company approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures for an amount of Rs 215 crore with an option to retain over subscription up to Rs 250 crore aggregating to Rs 465 crore," it added.

Shares of the company on Monday closed 4.93 percent higher at Rs 134.05 on the BSE.

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