Manap­pu­ram Fi­nance’s NCD is­sue

Money Times - - Press Release Stock Pick Expert Eye -

Manap­pu­ram Fi­nance Ltd, a ma­jor non-bank­ing fi­nance com­pany (NBFC) in gold fi­nance, plans to raise Rs.1000 crore through is­sue of se­cured re­deemable non-con­vert­ible deben­tures (NCDs) of face value Rs.1000 each. The base size of the is­sue is Rs.200 crore with an op­tion to re­tain over­sub­scrip­tion up to Rs.800 crore (Tranche I). In­ter­est rates vary be­tween 9.6% and 10.4%. The is­sue will close for sub­scrip­tion on 22 Novem­ber 2018, with an op­tion to early closure. The NCDs un­der this is­sue have been as­signed CARE AA/Sta­ble by CARE Rat­ings and BWR AA+ Sta­ble by Brick­work Rat­ings.

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