Manappuram Finance on Wednesday said that it plans to raise up to Rs 250 crore through non-convertible debentures.
In a regulatory filing, Manappuram Finance informed stock exchanges that the “financial resources and management committee of its board of directors has approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures up to Rs 250 crore”.
Shares of the lender were trading at Rs 141.90 a piece on Bombay Stock Exchange (BSE) in morning trade, up 2.09 per cent from their previous close.