The board of the NBFC approved raising Rs 400 crore through issue of non-convertible debentures on private placement route.
In a BSE filing made during market hours today, the NBFC said that its board had approved issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) with a face value of Rs 10 lakh each aggregating to Rs 400 crore (base size of Rs 100 crore and an option to retain oversubscription upto Rs 300 crore).
The scrip rose 0.86% to Rs 175.25, extending gains for fourth day in a row.
The stock has added 3.03% in four sessions from its recent closing low of Rs 170.10 on 11 December 2020.
Manappuram Finance is a gold loans offering non-banking financial company, engaged in providing finance against used household gold ornaments.
The NBFC reported 6.4% fall in consolidated net profit to Rs 405.44 crore on 13.5% increase in total income to Rs 1577.91 crore in Q2 FY21 over Q2 FY20.
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