New Delhi

In a regulatory filing, Manappuram Finance informed stock exchanges that the "financial resources and management committee of its board of directors has approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures up to Rs 250 crore". Shares of the lender were trading at Rs 141.90 a piece on BSE in morning trade, up 2.09 per cent from their previous close.