Manappuram Finance raises Rs 150 crore via NCDs

NEW DELHI: Gold mortgage firm Manappuram Finance said it has raised Rs 150 crore by issuing bonds on a private placement basis. The Financial Resources and Management Committee of board of directors allotted 1,500 secured redeemable non-convertible debentures by way of private placement, having face value of Rs 10,00,000 each aggregating to Rs 150 crore," it said in a regulatory filing. The allotment was placed yesterday, September 27. Primarily a gold loan company based in Kerala, Manappuram Finance has now diversified into other financial business also like microfinance, vehicle and housing finance, and SME lending. -Agencies