Thus far in 2016, the stock appreciated by more than three-fold from Rs 30, as compared to 8.6% rise in Sensex.
The company, which started as a gold loan company, has expanded and ventured into foreign exchange and money transfer
Manappuram Finance on Saturday said it plans to raise Rs 75 crore through secured redeemable non-convertible debentures.
However, shares of the company closed 4.16% down at Rs 87.55 on BSE
The stock was trading higher by 3% to Rs 74.25, its highest level since January 2011 on the BSE.
In past one-and-half months, the stock rallied 62% after the company reported 87% growth in profit for Q4FY16
Since May 12, post March quarter results, the stock has rallied 32% as compared to 1.8% decline in the S&P BSE Sensex
The stock surged 20% to Rs 50.25, also its 52-week high on the BSE.
Aims to expand business to reduce concentration risk from gold loan book
In past one-month, post Q3FY16 results, the stock rallied 26% as compared to 8% rise in the S&P BSE Sensex.