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Manappuram Finance raises Rs 150 crore by issuing bonds

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New Delhi: Manappuram Finance on Tuesday stated it has raised as much as Rs 150 crore by issuing bonds to buyers on a personal placement foundation.

The monetary recourse and administration committee of the board of administrators of the corporate accredited the allotment of 1,500 secured redeemable non-convertible debentures (NCDs) aggregating to Rs 150 crore on a personal placement foundation to be listed on the BSE, it stated in a regulatory submitting.

The non-banking monetary firm stated that the tenure of the NCDs, allotted on June 23, 2020, is 18 months, set to mature on December 23, 2021.

The coupon on the bonds is fastened at 8.75 per cent, to be payable yearly and on maturity.

Manappuram Finance inventory was trading at Rs 155.20 apiece on BSE, down 1.96 per cent from its earlier shut.

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