Gold mortgage firm Manappuram Finance will raise Rs 150 crore through secured redeemable non-convertible debentures on a private placement basis.
"The company is proposed to issue secured redeemable non-convertible debentures for Rs 100 crore with a green shoe option of Rs 50 crore aggregating to Rs 150 crore on private placement basis," the company said in a regulatory filing.
Manappuram said it plans to allot the debentures on July 28.
The company which basically started as a gold loan company has today expanded and ventured into foreign exchange and money transfer as part of diversification.
Shares of the company closed at Rs 75.90 on BSE, up 1.07 per cent from previous close.
