Manappuram Finance Ltd on Friday said it plans to raise up to Rs 1,150 crore through issuance of debentures.
"Financial resources and management committee of the board of directors of the company held on February 07, 2020 approved the issuance and private placement of rated, secured, redeemable non-convertible debentures up to Rs 1,150 crore," Manappuram Finance said in a regulatory filing.
A meeting of the financial resources and management committee of the board of directors of the company will be held on February 14, 2020 to consider the proposed allotment for the said issue, it said.
Shares of Manappuram Finance were trading at Rs 166.90 a piece on BSE, down 2.03 per cent from the previous close.
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