Manappuram Finance raises US$115.4M in debenture placement
What's the deal? Manappuram FinanceDealroom has a profile for this one. Try Dealroom → has raised US$115.4M through a private placement of non-convertible debentures (NCDs), announced on 17 August 2026. The non-banking financial services firm issued 85,000 debentures in two series, each carrying a face value of US$1.36K.
The terms: Series A covers 25,000 NCDs worth US$34M, with a 9.05% coupon and a 2032 maturity. Series B accounts for 60,000 NCDs worth US$81.5M, at a 9.10% coupon maturing in 2036. Both are rated, subordinated, unsecured, and proposed for listing on the BSEDealroom has a profile for this one. Try Dealroom →.
Why now? The issuance follows board approval granted on 30 March 2026 and was disclosed in a regulatory filing with the National Stock Exchange of IndiaDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The company said the debt is part of its strategy to strengthen its financial resources and support operational growth. The instruments also add diversity to its capital structure.
The signal: For an established non-bank lender, tapping debt markets rather than equity keeps ownership intact while locking in long-dated funding. The staggered 2032 and 2036 maturities give Manappuram a decade of committed capital to lend against.
Read more: Business Upturn
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