Manappuram Finance shines on planning to raise Rs 500 crore through NCDs

Manappuram Finance is currently trading at Rs. 163.00, up by 7.30 points or 4.69% from its previous closing of Rs. 155.70 on the BSE.

The scrip opened at Rs. 158.50 and has touched a high and low of Rs. 163.40 and Rs. 157.05 respectively. So far 327892 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 224.40 on 10-Nov-2021 and a 52 week low of Rs. 139.00 on 22-Apr-2021.

Last one week high and low of the scrip stood at Rs. 172.35 and Rs. 154.25 respectively. The current market cap of the company is Rs. 13745.45 crore.

The promoters holding in the company stood at 35.05%, while Institutions and Non-Institutions held 48.36% and 16.59% respectively.

Manappuram Finance is planning to raise Rs 500 crore through Secured, Rated Redeemable Non-Convertible Debentures (NCDs) for Rs 100 crore with an option to retain oversubscription upto Rs 400 crore and in this regard company’s board of directors holding a meeting of Financial Resources and Management Committee on December 24, 2021. The above issuance is pursuant to the approval of the Board of Directors resolution passed at its meeting held on March 19, 2021.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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