In an exchange filing, Manappuram Finance said that the special committee of the board has approved the issuance of Secured, non-cumulative, redeemable, listed, rated, non-convertible taxable debentures of face value of Rs 1 lakh for an aggregate amount of Rs 1,000 crore.

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

On a consolidated basis, its net profit of Manappuram Finance jumped 75.80% to Rs 495.89 crore on 36.9% increase in total income to Rs 2057.17 crore in Q1 June 2023 over Q1 June 2022.

Shares of Manappuram Finance declined 1.90% to Rs 137.05 on the BSE.