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Manappuram Finance to raise up to Rs 465 cr by issuing bonds

Press Trust of India  |  New Delhi 

Manappuram Finance on Monday said it will raise up to Rs 465 crore by issuing bonds on a private placement basis.

The decision was taken by the board of the company at its meeting.

"The financial resources and management committee of the board of directors of the company approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures for an amount of Rs 215 crore with an option to retain over subscription up to Rs 250 crore aggregating to Rs 465 crore," it added.

Shares of the company on Monday closed 4.93 per cent higher at Rs 134.05 on the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, September 23 2019. 18:35 IST