Manappuram Finance to raise Rs 6,000 crore in Financial Year 2022

Non-banking finance company Manappuram Finance on Friday said it will raise up to Rs 6,000 crore in the next fiscal year.

The decision was taken by the board of directors at a meeting on Friday, the company said in a regulatory filing.

"The board of directors of Manappuram Finance Limited at its meeting held on today has considered and approved the fundraising programme of the company for FY 2021-2022, which includes the issuance of redeemable non-convertible debentures to the tune of Rs 6,000 crore," it said.

The fundraising will be through various ways, including the issuance of redeemable non-convertible debentures on private placement and/or a public issue in one or more tranches.

Shares of Manappuram Finance traded at Rs 157.95 apiece on BSE, down 0.54 per cent from its previous close.