Manappuram Finance on Saturday said its board has approved a proposal to raise up to ₹7,800 crore in the next financial year.
"The board of directors at its meeting held today has considered and approved fund raising programme of the company for FY23, which includes issuance of redeemable non-convertible debentures up to the overall limit of ₹7,800 crore by way of private placement or/and public issue in one or more tranches," Manappuram Finance said in a regulatory filing.
The gold financier said it proposed to list the bonds on the BSE or NSE and the tenure of the instrument, date of allotment, maturity and coupon will be decided by the board at the time of allotment.