Manappuram Finance trades higher on planning to raise funds through various options
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Manappuram Finance is currently trading at Rs. 127.15, up by 1.50 points or 1.19% from its previous closing of Rs. 125.65 on the BSE.
The scrip opened at Rs. 125.15 and has touched a high and low of Rs. 127.75 and Rs. 125.15 respectively. So far 272608 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 133.90 on 19-Apr-2023 and a 52 week low of Rs. 83.65 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 130.50 and Rs. 121.55 respectively. The current market cap of the company is Rs. 10698.43 crore.
The promoters holding in the company stood at 35.20%, while Institutions and Non-Institutions held 43.70% and 21.10% respectively.
Manappuram Finance is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore / offshore securities market by Public Issue, on Private Placement Basis or through issuing Commercial Papers. Based on the prevailing market conditions, the Board of Directors / Financial Resources and Management Committee / Debenture Committee of the Board of Directors of the Company may consider and approve issuances of Debt Securities during the month of July, 2023, subject to such terms and conditions including the issue price of debt securities, as the Board / respective Committee may deem fit.
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.
