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India’s Manappuram board OKs up to Rs. 5 billion debenture issue
By Sarah Lizee
Olympia, Wash., May 27 – Manappuram Finance Ltd. informed the Bombay Stock Exchange that the financial resources and management committee of its board of directors met on Wednesday and approved a proposal to raise up to Rs. 5 billion of secured redeemable nonconvertible debentures.
The debentures may be issued via private placement, according to the notice.
The non-banking financial company is based in Thrissur, India.
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