Manappuram Fiance raises Rs 200 crore through bonds

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Manappuram Finance has raised Rs 200 crore by issuing secured bonds on a private placement basis.

The Financial Resources and Management Committee of the board of directors of the company in a meeting held today approved the allotment of 2,000 secured redeemable non-convertible debentures, the company said in a regulatory filing.

With a face value of Rs 10 lakh each, the aggregate value of the bonds issued through a private placement is Rs 200 crore.

The Kerala based non-banking finance company is one of the leading gold loan financing companies that started its operations way back in 1949.

It has over the years diversified into other financial products such as housing loans, vehicle finance, microfinance as well as a loan against property.

The stock of Manappuram Finance on Monday closed 0.41 per cent up at Rs 98 a unit on the BSE.

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