Manappuram Finance gained 1.11% to Rs 191.50 after the company's board will meet on Friday, 19 April 2024 to consider raising funds which includes external commercial borrowings in the form of US dollar bonds.
The company will raise $500 million, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form as per the applicable guidelines issued by the Reserve Bank of IndiaManappuram 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.
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