In an exchange filing made during market hours today, the NBFC announced that its board will meet March 24 to approve the borrowing program including issuance of redeemable non-convertible debentures, notes, bonds (debt securities) in onshore/offshore market by way of private placement and/or public issue for FY 2023-24.

At the same meeting, the company's board will also consider and approve the business plan for the financial year (FY) 2023-24.

Manappuram Finance is one of India's leading gold loan NBFCs.

The NBFC's consolidated net profit soared 50.3% to Rs 392.17 crore on 15.1% rise in total income to Rs 1,734.52 crore in Q3 FY23 over Q3 FY22.

The scrip shed 0.62% to currently trade at Rs 111.90 on the BSE.