Manappuram Finance Ltd. on Thursday said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures on private placement basis.
The financial resources and management committee of the company's board of directors of the company have approved the issuance of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakh each for the amount of Rs 350 crore, Manappuram Finance said in a regulatory filing.
Another meeting of the committee will be held on Dec. 31 to consider the proposed allotment for the said issue, the filing added.
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