Manappuram To Invest ₹5 Billion In Asirvad Micro Finance

Manappuram Finance Ltd. will invest ₹5.0 billion in its subsidiary Asirvad Micro Finance Ltd. via a rights issue priced at ₹60 per share. The company corrected a prior statement that mistakenly quoted the issue price as ₹93 per share.

It will subscribe to up to 83.33 million equity shares, the company said on 1 June.