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Journalism of Courage
Kerala-based NBFC Manappuram Finance on Wednesday said it would raise Rs 750 crore from the market through issue of non-convertible debentures.
The company would utilise the proceeds in lending activity,investments and also to meet working capital requirements.
The company is engaged in providing loan against pledged gold and jewellery,Manappuram Finance Head of Treasury N Raghu Raman said.
Manappuram had already disbursed Rs 9000 crore in the first quarter of the current fiscal and the target was Rs 30,000 crore.
He said the NCD issue would carry an annualised yield of 12.56 per cent per annum.The bonds would be listed on the BSE,he added.
