Manappuram Finance board nods fund raising up to Rs7,800 crore in FY23; Stock gains

28 Mar 2022 , 09:22 AM

Manappuram Finance Ltd has informed that the Board of Directors at its meeting held on March 26, 2022 has considered and approved fund raising program of the Company for FY 2022-23.

As per regulatory filing, the fund raising plan includes issuance of Redeemable Non-Convertible Debentures upto the overall limit of Rs7,800 crore by way of private placement or/and Public issue in one or more tranches as may be decided by the Board of Directors or its committee thereof from time to time.

At around 9:23 AM, Manappuram Finance was trading at Rs115.15 apiece up by Rs0.7 or 0.61% from its previous closing of Rs114.45 apiece on the BSE.