Manappuram Finance okays Rs 300 cr fund raise by issuing bonds

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Manappuram Finance reported nearly 44 per cent increase in net profit at Rs 398.20 crore for the quarter ended March 2020, on robust interest income.
44 per cent increase in net profit at Rs 398.20 crore f


New Delhi, Jul 6 (PTI)
 Manappuram Finance on Monday said it will raise up to Rs 300 crore by issuing bonds on a private placement basis.

Financial resources and management committee of the company’s board of directors on Monday approved the issuance of the private placement of rated, secured and redeemable non-convertible debentures up to Rs 300 crore, it said in a regulatory filing.

Shares of Manappuram Finance on Monday closed at Rs 161.60 apiece on the BSE, up 0.25 per cent from the previous close

Source:PTI

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