Manappuram Finance Ltd. on Saturday said a committee of its board of directors will meet next week to consider a fundraising proposal.
The non-banking financial company plans to raise Rs 200 crore via issue of securities.
The meeting of the financial resources and management committee of the board will be held on Nov. 7 to "consider and approve the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures for the amount of Rs 200 Crores," the company said in a regulatory filing.
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On Friday, Manappuram Finance shares rose 1.41 percent to Rs 172.10 apiece on the BSE while the benchmark Sensex gained 0.09 percent to end the day at 40,165.03 points.
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