Manappuram Finance raises Rs.500-Cr through NCDs with 8% coupon

Thrissur-based Manappuram Finance has approved the allotment of secured, non-cumulative, redeemable, listed, rated, non-convertible taxable debentures of face value of INR 1,00,000 for INR 500 crore on a private placement basis. The NCDs have a coupon of 8% and have a tenure of 730 days.Manappuram primarily offers instant credit against gold jewellery but has diversified into a wide range of services, including microfinance, affordable housing loans, vehicle finance, MSME loans, business loans, forex, and money transfer.