The Board of Directors of the Manappuram Finance Limited held on 31 October 2019 approved the issuance of the Private Placement of Rated, Secured, Redeemable Non-Convertible Debentures having face value of INR 1 million each for the amount of INR 250 million with an option to retain over subscription up to INR 2,250 million aggregating to INR 2,500 million.