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Manappuram Finance board plans to raise funds via debt securities

The trading window for insiders of the company shall remain closed.

SNS Web | New Delhi |

Gold loan-focused non-banker Manappuram Finance Ltd. on Tuesday announced that its Board of Directors has decided to meet on March 19 to consider business plan and borrowing programme. The board will also consider raising funds via issuance of non-convertible debt securities.

In a regulatory filing the company said, “The Board of Directors of the Company will be meeting on Friday, March 19, 2021 to consider business plan and borrowing program including raising of funds through issuance of non-convertible debt securities either through a public issue or on private placement basis for FY 2021-22.”

Further, the trading window for insiders of the company shall remain closed from the opening of business hours in stock exchanges on March 16, 2021 to closing of business hours on March 23, 2021, the filing said.

Company’s shares on the BSE were trading at Rs 162.35, lower by 0.95 per cent from its previous close.

The company posted a 16.64 per cent rise in consolidated net profit to Rs 483.19 crore for the Q3 of FY21, as compared to Rs 414.26 crore in FY20.