Manappuram Finance shines on getting nod to raise Rs 800 crore through NCDs
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Manappuram Finance is currently trading at Rs. 172.65, up by 4.60 points or 2.74% from its previous closing of Rs. 168.05 on the BSE.
The scrip opened at Rs. 168.25 and has touched a high and low of Rs. 173.70 and Rs. 168.10 respectively. So far 226141 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. 173.70 and Rs. 166.05 respectively. The current market cap of the company is Rs. 14223.66 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 has received approval from board of directors to raise Rs 800 crore through issuance of Listed, Secured, Rated, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each for an amount of Rs 200 crore with an option to retain over subscription upto Rs 600 on private placement basis. Financial Resources and Management Committee of the Board of Directors at its meeting held on January 17, 2022 approved the same.
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.
