Manappuram Finance board gives nod for fund raising up to Rs770 crore via allotment of debt securities

20 Jul 2022 , 11:50 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 July 20, 2022 approved the allotment of MIBOR LINKED SECURED UNRATED UNLISTED REDEEMABLE NON CONVERTIBLE DEBENTURES (NCDs) of face value of Rs10 lakh each for an amount of Rs770 crore on private placement basis.

According to the filing, tenure of the allotment is 3 years where date of  allotment is July 20, 2022 and date of maturity is July 20, 2025.

“The Debentures are secured by a first ranking pari passu charge by way of hypothecation over the Receivables”, the company said on Wednesday.

At around 11:55 AM, Manappuram Finance was trading at Rs94.05 per share down by Rs0.45 or 0.48% from its previous closing of Rs94.50 per share on the BSE.