MAFIL plans to raise Rs 1,150 crore via debentures

Manappuram Finance Limited (MAFIL), India’s leading gold loan Non-Banking Financial Company (NBFC), informed today that it is planning to raise up to Rs 1,150 crore through the issuance of debentures.

The company, in a regulatory filing, stated that the financial resources and management committee of the board of directors have approved the issuance and private placement of rated, secured, redeemable non-convertible debentures up to Rs 1,150 crore in a meeting held on February 7, 2020 (Friday).

The filing further added that the proposed allotment for the abovementioned issue would be decided in a meeting to be held on February 14, 2020.

At the time of market closing on Friday, the stock of Manappuram Finance Ltd was trading at Rs 166.95, down by 2.00 per cent against its previous close of Rs 170.35. Its 52-week high is recorded at Rs 194.60 and 52-week low is Rs 97.40 on BSE.