Manappuram Finance board OKs up to Rs. 250 million debentures

By Sarah Lizee

Olympia, Wash., Oct. 31 – India’s Manappuram Finance Ltd. informed the Bombay Stock Exchange that its financial resources and management committee of the board of directors approved plans to issue up to Rs. 250 million of secured redeemable non-convertible debentures on a private placement basis at a meeting on Thursday.

The debentures would carry a Rs. 2.25 billion greenshoe.

The board will meet on Nov. 7 to consider the proposed allotment for the issue.

The Ahmedabad, India-based company sells health and wellness products.

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