 "Manappuram announces NCD issue")
The NCDs will have an effective yield of up to 12.61 per cent per annum. Addressing a press conference, VP Nandakumar, managing director and CEO, said the favourable climate post the increase in loan-to-value ratio had been a positive for the organised gold loan sector.
The funds raised by the NCD issue will be utilised in augmenting capital expenditure and meeting the working capital requirements.
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