Manappuram Finance raises Rs 200 crore via NCDs

The company, which started as a gold loan company, has expanded and ventured into foreign exchange and money transfer

Gold mortgage firm Manappuram Finance has raised Rs 200 crore through issuance of secured redeemable non-convertible debentures (NCDs) on a private placement basis to ICICI Prudential Mutual Fund.

"Financial Resources and Management committee of Board of Directors of the company allotted 2000 secured redeemable non-convertible debentures by way of private placement, having face value of Rs 10,00,000 each aggregating to Rs 200 crore on September 12, 2016 to ICICI Prudential Mutual Fund," the company said in a regulatory filing.

The company, which started as a gold loan company, has today expanded and ventured into foreign exchange and money transfer as part of diversification.