Manappuram Finance plans to raise Rs 200 crore by issuing debentures on private placement basis.
The company said its Financial Resources and Management Committee of Board of Directors will consider the fund raise plan at their meeting scheduled for August 29.
Manappuram Finance proposes “to raise funds through secured redeemable non-convertible debentures aggregating to Rs 200 crore on private placement basis,” it said in a regulatory filing.
The Thrissur-based gold loan company has also diversified into other money business such as foreign exchange, outward remittances and money transfer.
Stock of the company closed 1.21 per cent down at Rs 85.50 on BSE.