Manappuram Finance to consider fund raising plan this month; Stock under pressure

Manappuram Finance Ltd has  informed to the exchanges that the Company is considering various options for raising funds through borrowings.

According to the regulatory filing, the fund raise options through borrowing include the way of issuance of various debt securities in onshore / offshore securities market by Public Issue, on Private Placement Basis or through issuing Commercial Papers.

Based on the prevailing market conditions, the Board of Directors of the Company may consider and approve issuances of Debt Securities during the month of January, 2022, subject to such terms and conditions including the issue price of debt securities, as the Board / respective Committee may deem fit, said Manappuram Finance on Thursday.

At around 1:32 PM, Manappuram Finance was trading at Rs165.45 apiece down by Rs1.35 or 0.81% from its previous closing of Rs166.80 apiece on the BSE.