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Manappuram Finance Board Approves Rs 8000 Cr In Fund Raise Through NCDs
This will include issuance of Redeemable Non-Convertible Debentures (NCDs) up to the overall limit of Rs 8000 crore by way of private placement or/and Public issue in one or more tranches
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Manappuram Finance Board of Directors on Friday has considered and approved fund-raising program of the company for FY2023-24.
This will include issuance of Redeemable Non-Convertible Debentures (NCDs) up to the overall limit of Rs 8000 crore by way of private placement or/and Public issue in one or more tranches, which will be decided by the Board of Directors or its committee.
Earlier this month, Manappuram Finance’s financial resources and management committee of the board of directors had approved the allotment of 1,10,000 rated, listed, secured, redeemable, non-convertible debentures having a face value of Rs 1,00,000 each and an aggregate face value of Rs 1,100 crore on private placement basis to be listed on BSE Limited.
The company has also announced the appointment of Dr Sumitha Nandan as new Executive Director on Friday.