NEW DELHI, June 23: Manappuram Finance on Tuesday said it has raised up to Rs 150 crore by issuing bonds to investors on a private placement basis.
The financial recourse and management committee of the board of directors of the company approved the allotment of 1,500 secured redeemable non-convertible debentures (NCDs) aggregating to Rs 150 crore on a private placement basis to be listed on the BSE, it said in a regulatory filing.
The non-banking financial company said that the tenure of the NCDs, allotted on June 23, 2020, is 18 months, set to mature on December 23, 2021.
The coupon on the bonds is fixed at 8.75 per cent, to be payable annually and on maturity.
Manappuram Finance stock was trading at Rs 155.20 apiece on BSE, down 1.96 per cent from its previous close. (PTI)
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