Business Standard

Manappuram group to raise Rs 1,500 cr via NCDs

Related News

will mobilise Rs 1,500 crore through a non-convertible debenture issue by next month. The debentures with a tenure of five years will carry an interest rate band of 11.5 -12 per cent, according to company chairman VP Nandakumar.

The company plans to mobilise Rs 750 crore through the issue and based on the market response, it would go up to Rs 1,500 crore. This will be mainly to stabilise the liability part of the company, he said.

The debentures will be listed in and BSE. The issue price would be fixed soon as regulatory approvals are being awaited.

Addressing a press conference here, he said the company does not need further infusion of capital for the next 3-4 years. The flagship company of the gold loan group Manappuram General Finance and Leasing Limited (Mafgil) earned a net profit of Rs 282 crore in 2010-11, and plans to clock Rs 450-500 crore in the current year.

Manappuram Jewellers, the gold jewellery outlet of the group, will open 100 retail outlets in the next five years with an investment outlay of Rs 3,000 crore.

The number will be expanded to 24 this year itself. The company has 12 such outlets in Kerala, Karnataka and Tamil Nadu and plans to have a public issue of shares by 2015, he added.

Read more on:   
|
|
|

Read More

Blackstone bets on low-risk realty assets

For its investments in the Indian real estate, Blackstone seems to follow adage “slow and steady wins the race” quite ardently.Till 2011, the real ...

Quick Links

More news from Finance Rss icon

Third-party insurance to be offered to e-rickshaws

According to the Motor Vehicles Act, 1988, no vehicle is allowed to ply on Indian roads without taking a third-party insurance cover

Govt banks' NPA write-offs double in three years

The loans written off by PSBs soared from Rs 20,752 cr in 2011-12 to Rs 32,992 cr in 2012-13 and further to Rs 42,447 cr in 2013-14

MHA bats for SMSes on bank transactions, ATM slips in Hindi

Home Ministry's official language department said so far there is no facility for working in Hindi language on Internet banking websites

Back to Top