Manappuram Finance on Friday announced that it will raise up to Rs 6,000 crore in the next fiscal.
The decision was taken by the board of directors at a meeting on March 19, the company said in a regulatory filing.
“The board of directors of Manappuram Finance Ltd at its meeting held on today has considered and approved the fundraising programme of the company for FY 2021-2022, which includes the issuance of redeemable non-convertible debentures to the tune of Rs 6,000 crore,” it said.
The fund raising will be through various ways, including the issuance of redeemable non-convertible debentures on private placement and/or a public issue in one or more tranches.
The instrument is proposed to be listed in BSE or NSE, as may be decided by the Board of Directors or its Committee.