Manappuram Finance to raise up to Rs 6,000 crore in next fiscal

Kolkata: Gold loan non-banking finance company (NBFC) on Friday announced that it will raise up to Rs 6,000 crore in the next fiscal.

The decision was taken by the board of directors at a meeting held on Friday (March 19), the company said in a regulatory filing.

"The board of directors of Manappuram Finance Limited at its meeting held on today has considered and approved the fundraising programme of the company for FY 2021-2022, which includes the issuance of redeemable non-convertible debentures to the tune of Rs 6,000 crore," it said.

The fundraising will be through various ways, including the issuance of redeemable non-convertible debentures on private placement and/or a public issue in one or more tranches.