NBFC announced on Thursday that the Financial Resources and Management Committee of the Board of Directors has approved the raising of funds up to Rs 770 crore via non-convertible debentures (NCDs), on a private placement basis.
In an exchange filing, Manappuram Finance said the special committee of the board approved the issuance of secured, unrated, unlisted, redeemable and non-convertible debentures with a face value of Rs 10,00,000 for a total principal amount of up to Rs 770 crore.
Manappuram Finance is one of India’s leading gold lending NBFCs. The company reported a 44.2% drop in consolidated net profit to Rs 261.10 crore on an 8.5% drop in total revenue to Rs 1,491.31 crore in Q4 FY22 compared to Q4 FY21.
Manappuram Finance shares fell 1.86% to Rs 84.40 on BSE.
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