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Manappuram Finance on Monday said it has raised ₹100 crore by issuing bonds on a private placement basis.
The Financial Recourse and Management Committee of the company’s board at its meeting held on September 7 approved the allotment of 1,000 market linked, rated, secured, redeemable non-convertible debentures aggregating to ₹100 crore on a private placement basis, it said in a regulatory filing.
The tenure of the bonds is 2 year and 6 months. The date of allotment of bonds is September 7, 2020 and date of maturity is March 7, 2023.
Manappuram Finance stock settled at ₹ 145.65 on BSE, down 4.27 per cent from previous close.
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