Manappuram Finance board OKs fund raising upto Rs 770 cr
The NBFC on Thursday announced that the financial resources and management committee of the board approved fund raising upto Rs 770 crore via non-convertible debentures (NCDs), on a private placement basis.
In an exchange filing, Manappuram Finance said that the special committee of the board approved the issuance of secured, unrated, unlisted, redeemable, non-convertible debentures of face value of Rs 10,00,000 for a principal aggregate amount of upto Rs 770 crore.
Manappuram Finance is one of India's leading gold loan NBFCs. The company reported a 44.2% fall in consolidated net profit to Rs 261.10 crore on an 8.5% decline in total income to Rs 1,491.31 crore in Q4 FY22 over Q4 FY21.
Shares of Manappuram Finance were down 1.86% to Rs 84.40 on the BSE.
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First Published: Jun 30 2022 | 11:24 AM IST