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Manappuram Finance on Tuesday said it has raised Rs 400 crore by issuing bonds on private placement basis.
The Financial Resources and Management Committee of the board of directors of the company has approved the allotment of 4,000 rated, secured, redeemable non-convertible debentures aggregating to Rs 400 crore, Manappuram Finance said in a regulatory filing.
These bonds will mature in three years and carry a coupon rate of 7.45 per cent per annum.
Shares of Manappuram Finance were trading 1.79 percent lower at Rs 159.25 apiece on the BSE.
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