Manappuram Finance raises Rs 100 crore by issuing bonds

NEW DELHI: Manappuram Finance on Monday said it has raised Rs 100 crore by issuing bonds on a private placement basis. The Financial Recourse and Management Committee of the company's board at its meeting held on September 7 approved the allotment of 1,000 market linked, rated, secured, redeemable non-convertible debentures aggregating to Rs 100 crore on a private placement basis, it said in a regulatory filing.

The tenure of the bonds is 2 year and 6 months. The date of allotment of bonds is September 7, 2020 and date of maturity is March 7, 2023.

Manappuram Finance stock settled at Rs 145.65 on BSE, down 4.27 per cent from previous close.