Manappuram Finance on Monday said it will raise up to Rs465 crore by issuing bonds on a private placement basis.
The decision was taken by the board of the company at its meeting.
“The financial resources and management committee of the board of directors of the company approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures for an amount of Rs215 crore with an option to retain over subscription up to Rs250 crore aggregating to Rs465 crore,” it added.
Shares of the company on Monday closed 4.93% higher at Rs134.05 on the BSE.
Source: Mint