 "Manappuram Finance raises Rs 250 cr by issuing bonds on private placement")
Manappuram Finance on Friday said it has raised Rs 250 crore by issuing bonds on a private placement basis.
The Financial Recourse and Management Committee of the company's board has approved allotment of 2,500secured redeemable NCDs of face value of Rs 10 lakh each aggregating to Rs 250 crore on a private placement basis, it said in a regulatory filing.
The non convertible debentures (NCDs) are to be listed on BSE, it said.
The bonds carry a coupon rate of 8.75 per cent per annum and have tenure of 18 months, said the Kerala based non-banking finance company.
Manappuram Finance stock was trading 2.95 per cent down at Rs 142.20 on BSE.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%