The Kerala-based gold NBFC on Tuesday (27 December 2022) announced that its board may consider raising funds through debt securities in January 2023.
Manappuram Finance said that it is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore/offshore securities market by public issue, on private placement basis or through issuing commercial papers.
Based on the prevailing market conditions, the NBFC's board may consider and approve issuances of debt securities during the month of January 2023. The proposal is subject to such terms and conditions including the issue price of debt securities, as the board/respective committee may deem fit.
Manappuram Finance is one of India's leading gold loan NBFCs. The NBFC's consolidated net profit rose 10.4% to Rs 408.35 crore on 10.3% increase in total income to Rs 1,714.12 crore in Q2 FY23 over Q2 FY22.
Shares of Manappuram Finance were up 0.72% to Rs 111.25 on the BSE.
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