Manappuram Finance Ltd Share Price – NSE  /  BSE

Finance, Small Cap

The company will raise $500 million, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form as per the applicable guidelines issued by the Reserve Bank of India

Manappuram Finance is a non-banking finance company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The company is a Systemically Important Non-Deposit taking NBFC (NBFC-ND). The company is registered with the Reserve Bank of India (RBI).

The NBFC’s consolidated net profit jumped 46.1% to Rs 572.87 crore on 34.1% increase in total income to Rs 2,326.68 crore in Q3 FY24 over Q3 FY23.

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Manappuram Finance will consider a proposal for raising funds up to a principal aggregate amount of up to US$ 500,000,000, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form as per the applicable guidelines issued by the Reserve Bank of India.

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The issuance can be done 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.

Further, the board of directors has also approved the issuance of secured, non-cumulative, redeemable, listed, rated, non-convertible taxable debentures for an aggregate amount of Rs 25 crore on private placement basis.

Manappuram Finance is a non-banking finance company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The company is a Systemically Important Non-Deposit taking NBFC (NBFC-ND). The company is registered with the Reserve Bank of India (RBI).

The NBFC’s consolidated net profit jumped 46.1% to Rs 572.87 crore on 34.1% increase in total income to Rs 2,326.68 crore in Q3 FY24 over Q3 FY23.

The scrip closed 0.69% lower at Rs 166.30 on the BSE.

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The Board of Manappuram Finance at its meeting held on 19 March 2024 has approved fund raising program of the company for FY 2024-25 which 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 Board also approved the issuance of Secured, Non-Cumulative, Redeemable, Listed, Rated, Non-Convertible Taxable Debentures for an aggregate amount of Rs 25 crore on private placement basis.

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