Manappuram Finance board plans to raise funds via debt securities
The trading window for insiders of the company shall remain closed.
Manappuram Finance on Friday announced that it will raise up to Rs 6,000 crore in the next fiscal.
The decision was taken by the board of directors at a meeting on March 19, the company said in a regulatory filing.
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“The board of directors of Manappuram Finance Ltd at its meeting held on today has considered and approved the fundraising programme of the company for FY 2021-2022, which includes the issuance of redeemable non-convertible debentures to the tune of Rs 6,000 crore,” it said.
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The fund raising will be through various ways, including the issuance of redeemable non-convertible debentures on private placement and/or a public issue in one or more tranches.
The instrument is proposed to be listed in BSE or NSE, as may be decided by the Board of Directors or its Committee.
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