A fundraising plan boosts Manappuram Finance

Manappuram Finance gained 2.01% to Rs 117 after NBFC announced that the board meeting is scheduled for March 17, 2022 to review and approve the borrowing program for the financial year 2022-23.

In an exchange filing, Manappuram Finance said the board of directors will meet on Thursday, March 17, 2022 to review and approve the borrowing program, including the issuance of redeemable non-convertible debentures, notes and bonds (debt securities) on the onshore/offshore market by way of private placement and/or public issue for the financial year 2022-23.

The company said the board will also discuss the business plan for the 2022-23 fiscal year.

Manappuram Finance is one of India’s leading gold lending NBFCs. The company reported a 46% drop in consolidated net profit to Rs 261 crore on a 9% drop in total revenue to Rs 1,506.85 crore in Q3 FY22 compared to Q3 FY21

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First published: Tuesday, March 15, 2022. 11:46 a.m. IST

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