The Board of Directors of MMFSL ( Board ), has inter-alia superseded the Right issue approval granted on 13th February 2025 and via a fresh resolution approved fund raise by way of offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding Rs. 3,000 Crore; to pursue the proposed Right Issue under SEBI (ICDR) (Amendment) Regulations, 2025 dated 3rd March 2025 ( new simplified regulations ) which have considerably simplified the Rights issue process thereby making it time, process and cost efficient.This is to clarify that the resolution approved today by the Board is not for any additional offer and issuance of Equity Shares but only a fresh approval for the same matter which was announced on 13th February 2025 for the reasons as stated above
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MMFSL's Board on 2nd May 2025 superseded its earlier 13th February 2025 approval and passed a fresh resolution to raise up to Rs. 3,000 Crore via a Rights Issue. The re-approval is purely procedural, aimed at taking advantage of SEBI's new simplified Rights Issue regulations notified on 3rd March 2025, which make the process faster, simpler, and cheaper. The issue size remains unchanged at Rs. 3,000 Crore — this is not any additional share issuance beyond what was originally approved. The funds will strengthen the company's capital adequacy ratio and boost Tier 1 capital by over 200 basis points to support AUM growth. MMFSL, an AAA-rated NBFC, reported an AUM CAGR of 20%, GS3 below 4%, and credit costs under 2% in FY25.
Existing shareholders may be asked to contribute additional capital to maintain their stake when the rights issue eventually opens, though record date, pricing, and ratio are yet to be decided. The re-approval under simplified SEBI rules should lead to quicker execution and lower issuance costs, which is a mild positive for the stock.