Manappuram Finance, the credit rated gold loan company, announced that Financial Resources and Management Committee of the Board of Directors of the company at its meeting held on January 17, 2022 has approved to raise Rs 8 billion through issuance of Listed, Secured, Rated, Redeemable, Non-Convertible Debentures (NCDs) of face value of Rs 10,00,000 each for an amount of Rs 2 billion with an option to retain over subscription upto Rs 600 on private placement basis.

Shares of the company declined Rs 5.10 or 3.03%, to settle at Rs 162.95. The total volume of shares traded was 624,550 at the BSE (Tuesday).