Manappuram Finance trades higher on getting nod for fund-raising program for FY 2024-25
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Manappuram Finance is currently trading at Rs. 167.20, up by 0.90 points or 0.54% from its previous closing of Rs. 166.30 on the BSE.
The scrip opened at Rs. 167.00 and has touched a high and low of Rs. 171.85 and Rs. 166.30 respectively. So far 201601 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 199.00 on 05-Mar-2024 and a 52 week low of Rs. 102.00 on 05-May-2023.
Last one week high and low of the scrip stood at Rs. 171.95 and Rs. 158.70 respectively. The current market cap of the company is Rs. 14127.00 crore.
The promoters holding in the company stood at 35.20%, while Institutions and Non-Institutions held 41.09% and 23.70% respectively.
Manappuram Finance has received approval from Board of Directors for fund-raising program for FY 2024-25, which inter-alia includes issuance of Redeemable Non-Convertible Debentures upto the overall limit of Rs 6000 crore by way of private placement or/and Public issue in one or more tranches as may be decided by the Board of Directors or its committee thereof from time to time.
The company has also received approval to raise Rs 25 crore through issuance of Secured, Non-Cumulative, Redeemable, Listed, Rated, Non-Convertible Taxable Debentures (NCDs) on private placement basis. The Board of Directors at its meeting held on March 19,2024 have considered and 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.
