Manappuram Finance Limited has informed the Exchange about General Updates- Outcome of the Financial and Resources Management Committee of Board Meeting under Regulation 30 and 51 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( LODR Regulations , as amended from time to time)
MANAPPURAM · price
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Manappuram Finance's Financial and Resources Management Committee, at its meeting on August 6, 2025, approved converting its existing Euro Medium Term Note (EMTN) programme into a Global Medium Term Note (GMTN) programme. Under this programme, the company can issue senior secured notes of up to USD 2 billion (or its equivalent in other currencies), in one or more tranches, in accordance with the U.S. Securities Act (Regulation S and Rule 144A). The committee also approved all related transaction documents, offering circulars, and trust deeds, and authorised company officers to execute the deal. The notes will be offered only to international investors and will not be sold in India. A preliminary offering circular will be shared with prospective investors.
This is a significant international fundraising move, giving Manappuram access to up to USD 2 billion in overseas debt markets and diversifying its funding sources beyond domestic borrowings. For existing shareholders, the issuance is in the form of secured debt notes (not equity), so there is no dilution, though higher leverage could affect future interest costs depending on market conditions at the time of actual drawdowns.