Mumbai: Manappuram Home Finance, a subsidiary of Manappuram Finance is aiming to raise Rs 200 crore through maiden public issue of Non Convertible Debentures to utilise 75 per cent of the net proceeds for the purpose of working capital requirement.
The NCDs with maturity period of 36 month to 60 month have coupon rates from 9.75 per cent to 10.65 per cent and effective yield varying from 10 per cent to 10.75 per cent. The public issue opened on Sept. 30 and is scheduled to close on October 29 with an option of early closure or extension as decided by the Board of the company. These NCDs are rated AA minus by Care Ratings.
VP Nandkumar, Chairman, Manappuram Home Finance, speaking at the launch of the company's maiden NCD public issue, said, “Post IL&FS issue only three companies ratings were upgraded by seven rating agencies in the country and all three were from the Manappuram fold.”
