Manappuram Finance Limited has informed the Exchange about General Updates
MANAPPURAM · price
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Awaiting price reaction for this filing.
Manappuram Finance is investing up to Rs. 500 crores in its subsidiary Asirvad Micro Finance Limited (AMFL) by subscribing to up to 8,33,33,333 equity shares at Rs. 60 per share (face value Rs. 10, premium Rs. 50) through a rights issue. The Board had given in-principle approval on May 9, 2025, and the Audit Committee finalized the terms on May 31, 2025. The company clarified that the issue price was previously wrongly stated as Rs. 93 per share and has now been corrected to Rs. 60 per share. All other details from the May 9 board meeting outcome remain unchanged.
This is a capital infusion into Manappuram's existing microfinance subsidiary and not a new acquisition, so the overall impact on shareholders is limited. The price correction from Rs. 93 to Rs. 60 per share is favourable as it means the company is paying less per share than initially reported, though the total investment quantum of Rs. 500 crores remains the same.