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Manappuram Finance rises after board to mull fund raising upto $500 million

16-Apr-24 10:03 Hrs IST

The company will raise $500 million, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form as per the applicable guidelines issued by the Reserve Bank of India

Manappuram Finance is a non-banking finance company (NBFC), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The company is a Systemically Important Non-Deposit taking NBFC (NBFC-ND). The company is registered with the Reserve Bank of India (RBI).

The NBFC?s consolidated net profit jumped 46.1% to Rs 572.87 crore on 34.1% increase in total income to Rs 2,326.68 crore in Q3 FY24 over Q3 FY23.

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