The Kerala-based gold NBFC on Wednesday (22 February 2023) announced that its board may consider raising funds through debt securities in March 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 March 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 soared 50.3% to Rs 392.17 crore on 15.1% rise in total income to Rs 1,734.52 crore in Q3 FY23 over Q3 FY22.
Shares of Manappuram Finance declined 1.38% to Rs 103.90 on the BSE.
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