Manappuram Finance to raise up to Rs 7,800 cr in FY23

Manappuram Finance on Saturday said its board has approved a proposal to raise up to Rs 7,800 crore in the next financial year.

“The board of directors at its meeting held on today has considered and approved fund raising programme of the company for FY 2022-23, which includes issuance of redeemable non-convertible debentures up to the overall limit of Rs 7,800 crore by way of private placement or/and public issue in one or more tranches,” Manappuram Finance said in a regulatory filing.

The gold financier said it proposed to list the bonds on BSE or NSE and the tenure of the instrument, date of allotment, maturity and coupon will be decided by the board at the time of allotment.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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