Manappuram Finance Limited has informed the Exchange regarding Appointment of Mr Narayanan Easwaran as Group Chief Technology Officer and Senior Management Personnel of the Company of the company w.e.f. March 30, 2026.
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Manappuram Finance's board approved a borrowing program of up to Rs. 7,400 crore for FY 2026-27, mainly through redeemable non-convertible debentures via private placement or public issue. The board also appointed Mr. Narayanan Easwaran as Group Chief Technology Officer and Senior Management Personnel, effective March 30, 2026; he brings over 25 years of experience from banks like Equitas, IDFC First, ICICI, and Kotak Mahindra. Additionally, the company will invest up to Rs. 790.59 crore in its subsidiary Asirvad Micro Finance (AMFL) at Rs. 44 per share, raising its holding from 98.56% to 99.06%, and up to Rs. 150 crore in wholly owned subsidiary Manappuram Home Finance (MAHOFIN) at Rs. 10 per share. The funds into AMFL and MAHOFIN are intended to support their capex and working capital needs.
The sizeable borrowing plan and capital infusions into two subsidiaries signal aggressive growth and expansion, particularly in microfinance and home finance. Hiring an experienced external CTO suggests a focus on strengthening digital and technology capabilities, which is a positive operational signal for shareholders.