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The company will issue secured, rated, listed redeemable non-convertible debentures (NCD) through series A worth Rs 200 crore and series B worth Rs 400 crore.
In series A, tenure of the instrument is 539 days and will be matured on 28 March 2025. The coupon rate is 8.65% p.a.
In series B, tenure of instrument is 724 days and will mature on 29 September 2025. The coupon rate is 8.80% p.a.
The payment frequency of the both the series will be annually.
Net proceeds from the subscription of the NCDs shall be utilized for ordinary course of business of the Issuer including repayment/re-financing of existing debt, deployment in business and growth of asset book of the Issuer and for General Corporate purpose
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.
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