InvestorQ : Why is Manappuram Finance raising Rs.500 crore by way of debt and how do you see the company as an investment?
Aashna Tripathi made post

Why is Manappuram Finance raising Rs.500 crore by way of debt and how do you see the company as an investment?

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Tisha Malhotra answered.
12 months ago
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Manappuram Finance will issue debt securities worth Rs.500 crore according to a regulatory filing. The company will issue rated, secured, redeemable non-convertible debentures on private placement basis for Rs.100 crore with an option to retain oversubscription up to Rs.400 crore aggregating to Rs.500 crore. Manappuram is in the business of gold loans, SME finance, forex and money transfer, vehicle and personal loans, among others. It is in the relatively safer business of gold-backed lending but is looking to shore up its capital base. Also, strong NBFCs like Manappuram have much easier access to funding from the TLTRO 2.0 window and that becomes a stamp of quality for the lenders.

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