Manappuram Finance board gives nods to fund raising of up to Rs 770 crore via debt securities; Stock dips 2%

30 Jun 2022 , 11:35 AM

Manappuram Finance Ltd has informed that Financial Resources and Management Committee of the Board of Directors of the Company at its meeting held on June 30, 2022, approved the issuance of Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures of face value of Rs10 lakh for a principal aggregate amount of upto Rs770 crore on private placement basis.

On Thursday, Manappuram Finance was trading at Rs84.45 per share down by Rs1.55 or 1.8% from its previous closing of Rs86 per share on the BSE.

The scrip opened at Rs85.90 and has touched a high and low of Rs86.10 and Rs84.35 respectively so far today. The current market cap of the company is Rs7,278.99 crore.