Manappuram Finance said it has approved raising Rs 400 crore by issuing bonds on private placement basis. The Financial Resources and Management Committee of the board of directors of the company at its meeting approved issuance of non-convertible debentures (NCDs), The secured, rated, listed and redeemable NCDs are for an amount of Rs 100 crore with an option to retain oversubscription up to Rs 300 crore, aggregating to Rs 400 crore on a private placement route.