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Manappuram Finance Raises ₹850 Cr via Private NCD Placement

By ThePip DeskManappuram Finance Raises ₹850 Cr via Private NCD Placement

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 BSE.

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.

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