InvestorQ : Why is Manappuram raising funds by placing bonds on a private placement basis?
Aashna Tripathi made post

Why is Manappuram raising funds by placing bonds on a private placement basis?

Answer
image
Aditi Sharma answered.
1 month ago
Follow

Manappuram Finance has approved fund raising to the tune of Rs.400 crore through the issue of bonds on private placement basis. These bonds will be by way of non-convertible debentures or NCDs and will be privately placed with high net worth individuals as well as select institutional investors.

The NCD issue will be for an amount of Rs.100 crore with the option to retain additional oversubscription of up to Rs 300 crore, taking the aggregate fund raising to Rs.400 crore. This is intended to prop up the lending book of Manappuram which has seen solid traction in the last few months on the back of heavy demand for gold loans in the post pandemic.

0 Views