Manappuram rises after Raising 200 Crores Via NCDS

Shares of Manappuram Finance, the gold mortgage firm, was up 4% at Rs 94 on the NSE after the company raised Rs 200 crore through issuance of secured redeemable non-convertible debentures (NCDs)  on a private placement basis to ICICI Prudential Mutual Fund. On this account, Manappuram share price hiked by almost 4% to Rs. 93.80 in today’s trade.

The financial resources and management committee of the board of directors of the company assigned 2,000 secured redeemable non-convertible debentures by the private placement, with the face value of Rs 10,00,000 each. These debentures aggregated to Rs 200 crore on September 12, 2016, and were allocated to ICICI Prudential Mutual Fund.

The stock is currently trading near to its record 52-weeks high of Rs 94.10 touched on NSE on September 9, 2016. So far, a total of 51,88,931 shares has changed hands over the NSE counter. The scrip opened at Rs. 90 which remained its intraday low for today.

Manappuram share price has the face value of Rs. 2 while its book value stands at 32.77. The lifetime high of the stock is Rs. 94.95 at which the stock traded on 22 November 2010. The scrip traded on the lifetime low value of Rs.9.80 on 16 July 2013. The stock has the average volume of 56,94,582 for twenty days. The stock has the market cap of Rs.7595.21 crores and the PE of 16.69 as on 14th September 2016.

Dynamic Levels have identified Manappuram among the top 500 performing stocks for the quarter. For details on the stock, visitManappuram share price history page of Dynamic Levels website.