Manappuram Finance Ltd.

Credit rating agency, Brickwork Ratings has reaffirmed its ‘BWR AA-’ rating for Manappuram Finance's non-convertible debentures (NCD) issue of Rs 750 crore and Rs 100 crore.

Recently, ICRA had removed Manappuram Finance’s rating from ‘Rating watch with Developing Implications’. The outlook on the company’s long term rating was stable.

Manappuram Finance is a non-deposit taking NBFC and is mainly engaged in providing retail advances against bullion asset collaterals, in the form of household used jewellery. The company is having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and had 2,908 branches across India at the end of FY 12.