Manappuram Finance raises Rs 150 crore via NCDs

Gold mortgage firm Manappuram Finance said it has raised Rs 150 crore by issuing bonds on a private placement basis.
The Financial Resources and Management Committee of board of directors allotted 1,500 secured redeemable non-convertible debentures by way of private placement, having face value of Rs 10,00,000 each aggregating to Rs 150 crore," it said in a regulatory filing.
The allotment was placed yesterday, September 27.
Primarily a gold loan company based in Kerala, Manappuram Finance has now diversified into other financial business also like microfinance, vehicle and housing finance, and SME lending.
With 3,747 branches across 28 states and union territories its assets under management (AUM) is of nearly Rs 13,014 crore.

Stock of Manappuram Finance closed at Rs 98.15 on BSE, down 0.66 per cent.