Manappuram Finance Ltd NCD (Non Convertible Debentures) issue is to be closed early on Aug 26th instead of Sept 5 as declared earlier by the company. It seems they have already raised the amount they needed.
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Manappuram Finance Ltd has informed BSE that in terms of the prospectus dated August 09, 2011 filed with the Registrar of Companies, Kerala and Lakshadweep (the “Prospectus”), the public Issue by Manappuram Finance Ltd (the “Company”) of secured, redeemable, non-convertible debentures (the “Bonds”) of face value of Rs. 1,000 each aggregating to Rs. 4,000 million with an option to retain over subscription upto Rs. 3,500 million, aggregating to Rs. 7,500 million (the “Issue”), was opened on the August 18, 2011, and the scheduled date of closure of the Issue had earlier been decided as September 05, 2011. As per the Prospectus, the Company has an option to close the subscription on such earlier date as may be decided by the Board (i.e. the Debenture committee) of the Company subject to necessary approvals.
The Company would like to exercise this option for early closure of the Issue. Therefore, pursuant to the resolution of the Debenture Committee of the Company dated August 24, 2011, the Issue shall close for all the categories of applicants on August 26, 2011.
Further as per the Prospectus, the Company undertakes to provide notice of the same to the prospective investors through an advertisement a daily national newspaper on the date of Issue closure.