Manappuram Finance informed that its board has approved fund-raising for FY 2024-25, which includes issuance of redeemable non-convertible debentures (NCDs) upto the overall limit of Rs 6,000 crore.
The issuance can be done by way of private placement or/and public issue in one or more tranches as may be decided by the board of directors or its committee thereof from time to time.Further, the board of directors has also approved the issuance of secured, non-cumulative, redeemable, listed, rated, non-convertible taxable debentures for an aggregate amount of Rs 25 crore on private placement basis.
Manappuram Finance is a non-banking finance company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The company is a Systemically Important Non-Deposit taking NBFC (NBFC-ND). The company is registered with the Reserve Bank of India (RBI).
The NBFCs consolidated net profit jumped 46.1% to Rs 572.87 crore on 34.1% increase in total income to Rs 2,326.68 crore in Q3 FY24 over Q3 FY23.
The scrip closed 0.69% lower at Rs 166.30 on the BSE.
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