Manappuram Finance to raise Rs 6,000 crore in FY22

Non-banking finance company Manappuram Finance on Friday said it will raise up to Rs 6,000 crore in the next fiscal. The decision was taken by the board of directors at a meeting on Friday, the company said in a regulatory filing.

"The board of directors of Manappuram Finance Limited at its meeting held on today has considered and approved the fundraising programme of the company for FY 2021-2022, which includes the issuance of redeemable non-convertible debentures to the tune of Rs 6,000 crore," it said.

The fundraising will be through various ways, including the issuance of redeemable non-convertible debentures on private placement and/or a public issue in one or more tranches. Shares of Manappuram Finance traded at Rs 157.95 apiece on BSE, down 0.54 percent from its previous close.