Manappuram Finance to secure Rs350 crore through issuance of NCDs

India based non-banking financial company, Manappuram Finance Ltd is planning to raise Rs 350 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.

In a filing at regulatory at BSE, Manappuram Finance said, “The financial resources and management committee of the board of directors of the company on December 26, has approved the issuance rated, secured and redeemable non-convertible debentures having a face value of Rs 10 lakh each for the amount of Rs 350 crore.”

The further added, “The another meeting of the financial resources and management committee of the board of directors of the company will be held on 31st December, to consider the proposed allotment for the said issue.”