Manappuram Finance Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
MANAPPURAM · price
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Manappuram Finance filed its quarterly monitoring agency report for the preferential issue completed on March 27, 2026. Crisil Ratings Limited, acting as the Monitoring Agency, confirmed there are no deviations in the utilisation of proceeds. The total issue size is Rs. 4,384.94 crore — Rs. 2,192.47 crore from equity shares and Rs. 2,192.47 crore from convertible warrants. During the quarter, Rs. 1,445.97 crore was deployed: Rs. 788.43 crore was infused into subsidiary Asirvad Microfinance Limited (for equity share subscription), Rs. 1,045.97 crore was used for onward lending (gold loans and MSME loans), and Rs. 400 crore was used for repayment of outstanding borrowings (General Corporate Purpose). The remaining Rs. 2,938.97 crore is unutilised, of which Rs. 1,644.35 crore (75% of warrant proceeds) is yet to be received from warrant holders who have up to 18 months to convert them into equity shares.
No negative deviation reported — proceeds are being deployed as per disclosed objects. However, the large unutilised balance (Rs. 2,938.97 crore out of Rs. 4,384.94 crore) and pending warrant conversion receipt (Rs. 1,644.35 crore) indicate a gradual deployment pace, which investors should track.