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Manappuram Finance to consider raising fund through debt securities

The company said that it is considering various options for raising funds through borrowings.

SNS | New Delhi |

Manappuram Finance said on Monday that its Board of Directors probably will cinsider issuances of debt securities for raising funds.

In a regulatory filing, the company said that it is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore or offshore securities market by public issue, on private placement basis, or through issuing commercial papers.

“Based on the prevailing market conditions, the Board of Directors and/or Financial Resources and Management Committee / Debenture Committee of the Board of Directors of the company may consider and approve issuances of debt securities during the month of March, 2021, subject to such terms and conditions including the issue price of debt securities, as the Board / respective Committee may deem fit,” it said.

Around 2.36 p.m., its shares on the BSE were trading at Rs 174.90, lower by Rs 1.30 or 0.74 per cent from its previous close.

Similarly, on the NSE it was trading 0.82 per cent higher at Rs 174.65.