Manappuram Finance board OKs fund raising upto Rs 7,800 cr
The NBFC, on Saturday, announced that its board has approved the fund raising program for the issue size of Rs 7,800 crore for the FY 2022-23.
As per the exchange filing, the company's board has given a green flag for the fund raising, which includes issuance of redeemable Non-Convertible Debentures (NCDs) upto the overall limit of Rs 7,800 crore by way of private placement or/and public issue in one or more tranches.
Manappuram Finance is one of India's leading gold loan NBFCs. The company reported 46% fall in consolidated net profit to Rs 261 crore on a 9% decline in total income to Rs 1,506.85 crore in Q3 FY22 over Q3 FY21.
Shares of Manappuram Finance declined 2.26% to close at Rs 114.45 on Friday, 25 March 2022.
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