Non-banking financial company Manappuram Finance on Wednesday said its board has approved raising up to Rs 150 crore through issuance of non-convertible debentures (NCDs) on private placement basis.
The board of directors of Manappuram Finance has approved the issuance of market linked, rated, secured, redeemable non-convertible debentures for Rs 100 crore with an option to retain oversubscription up to Rs 50 crore aggregating to Rs 150 crore on private placement route," the lender said in a regulatory filing.
Manappuram Finance said its board also approved allotment of 1,000 secured rated redeemable non-convertible debentures having the face value of Rs 10,00,000 each aggregating to Rs 100 crore on a private placement basis
The non-convertible debentures are to be listed on BSE, it said.
Shares of Manappuram Finance were trading 2.34 per cent higher at Rs 159.50 apiece on BSE.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks