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Manappuram Finance to raise Rs 500 crore through NCDs

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India-based NBFC Manappuram Finance Ltd is reportedly planning to raise Rs 500 crore through issuance of non-convertible debentures on a private placement basis.

In a filing with the stock exchange, Manappuram Finance said, “The finance resource and management committee of the board of directors has approved the allotment of 5,000 secured redeemable non-convertible debentures (NCDs) aggregating to Rs 500 crore on a private basis.”

“The tenure of the instrument is of three years and to be listed on the BSE,” the filing said.

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