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Manappuram Finance proposes to raise 2.5B rupees via issuance of debentures

ManappuramFinance Ltd. plans to raise 2.5 billion rupees through an issuanceof secured redeemable noncovertible debentures on a private placement basis.

The issuance is subject to approval from the financial resourcesand management committee of Manappuram's board, the company said Sept. 29.

As of Sept. 29, US$1 was equivalent to 66.76 Indian rupees.