Manappuram Finance Ltd or MAFIL is a non-banking financial company situated in Valapad on Thursday said it plans to raise up to Rs 350 crore through issuance of non-convertible debentures on private placement basis.
The financial resources and management committee of the board of directors of the company on Thursday approved the issuance of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakhs each for the amount of Rs 350 crores, Manappuram Finance said in a regulatory filing.
The filing also added that another meeting of the financial resources and management committee of the board of directors of the company will be held on December 31, to consider the proposed allotment for the said issue.
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(With input from agencies)
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