Manappuram Finance Raises ₹850 Cr via Private NCD Placement
Financial certificates prepared for market listing
Key Highlights
Manappuram Finance successfully raised ₹850 crore through a private placement of rated, unsecured NCDs, set for BSE listing. Details on Series A & B NCDs.
Manappuram Finance successfully raised Rs 850 crore through the private placement of non-convertible debentures (NCDs).
These financial instruments are rated, subordinated, unsecured, listed, transferable, and redeemable, each carrying a face value of Rs 1,00,000. The company has explicitly stated that these NCDs are proposed for listing on the .
Specifics of the Debenture Allotment
The capital raise was structured across two distinct series of NCDs, each with different terms and tenures.
- Series A NCDs comprise 25,000 units, offering a coupon rate of 9.05% per annum and maturing over a 6-year period.
- Series B NCDs consist of 60,000 units, providing a coupon rate of 9.10% per annum, with a tenure extending to 3650 days.
Manappuram Finance Business Profile
Manappuram Finance operates as a Systemically Important Non-Deposit taking Non Banking Finance Company (NBFC) within the Indian financial sector. The company is known for delivering a wide array of financial products.
Its service portfolio includes prominent offerings such as gold loans and various money exchange facilities, catering to diverse customer needs.