Manappuram Finance nears record high

Shares of gold mortgage company Manappuram Finance become up to four at Rs ninety-four on the BSE after the organization raised Rs 200 crore via issuance of secured redeemable non-convertible debentures (NCDs) on a personal placement basis to ICICI Prudential Mutual Fund. The financial sources and control committee of the board of directors of the company allocated 2,000 secured redeemable non-convertible debentures by the manner of the private placement, having to face a cost of Rs 10,00,000 each aggregating Rs 2 hundred crores on September 12, 2016, to ICICI Prudential Mutual Fund,” the organization stated in a regulatory submitting.

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So far in 2016, it favored through more than three-fold from Rs 30, as compared to 8.6% upward thrust in the S&P BSE Sensex. The inventory is presently trading near its record high of Rs 95 touched on BSE on November 22, 2010, in intra-day change. Till 11:03 am, a mixed four.37 million Stocks modified fingers on the counter at the BSE and NSE.

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