Manappuram Finance announced on Monday that the company’s board of directors had approved raising funds of up to Rs 800 crore via non-convertible debentures, on the basis of a private placement.
NBFC in an exchange filing said the board had approved the issue of listed, secured, rated, redeemable and non-convertible debentures with a face value of Rs 10 lakh each for an amount of Rs 200 crore with a hold option on subscription up to Rs 600 crore aggregated to Rs 800 crore on a private placement basis.
Shares of Manappuram Finance were trading up 2.71% at Rs 172.60 on BSE in morning trading.
Manappuram Finance is one of India’s leading gold lending NBFCs. It has 4637 branches (including subsidiary branches) in 28 states/UT with assets under management (AUM) of Rs. 272.24 billion.
On a consolidated basis, the company’s net profit fell by 8.8% to Rs 369.88 crore on a 1.5% drop in total revenue to Rs 1,554.42 crore in Q2 FY22 compared to Q2 FY21 .
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)