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Manappuram Finance raises Rs 100 crore by issuing bonds

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NEW DELHI: Manappuram Finance on Monday stated it has raised Rs 100 crore by issuing bonds on a private placement base. The Financial Recourse in addition to Management Committee of the business board at its meeting presented on September 7 accepted the allotment of 1,000 market linked, rated, properly secured, redeemable non-convertible debentures aggregating to Rs 100 crore on a private placement base, it said in a regulating filing.

The tenure with the bonds is 2 yr and 6 months. The time frame of allotment of bonds is September 7, 2020 and date of readiness is March 7, 2023.

Manappuram Finance stock satisfied at Rs 145.65 on BSE, down five.27 per cent from earlier close.

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