Manappuram Finance plans to raise funds via debt offering

6 Jan 2022 , 01:38 PM

Manappuram Finance said it is considering various options for raising funds through borrowings including by the way of issuing 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 companys board may consider and approve issuances of debt securities during the month of January 2022. The proposal is subject to such terms and conditions including the issue price of debt securities, as the board/respective committee may deem fit.

On a consolidated basis, the companys net profit skid fell 8.8% to Rs 369.88 crore on 1.5% decline in total income to Rs 1,554.42 crore in Q2 September 2021 over Q2 September 2020.

Manappuram Finance is one of Indias leading gold loan NBFCs. It has 4637 branches (includes branches of subsidiary companies) across 28 states/UTs with assets under management (AUM) of Rs. 272.24 billion.

Shares of Manappuram Finance were down 0.72% at Rs 165.60.

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