Manappuram Finance okays Rs 300 crore fund raise by issuing bonds

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New Delhi: Manappuram Finance on Monday said it will raise up to Rs 300 crore by issuing bonds on a private placement basis.

Financial resources and management committee of the company’s board of directors on Monday approved the issuance of the private placement of rated, secured and redeemable non-convertible debentures up to Rs 300 crore, it said in a regulatory filing.

Shares of Manappuram Finance on Monday closed at Rs 161.60 apiece on the BSE, up 0.25 per cent from the previous close.

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