Manappuram Finance Limited has informed the Exchange about Addendum to the 33rd AGM notice of the Company
MANAPPURAM · price
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Manappuram Finance has issued an addendum withdrawing Agenda Item No. 6 from its 33rd AGM scheduled for August 14, 2025. The withdrawn item sought shareholder approval to raise the Foreign Portfolio Investor (FPI) investment ceiling to 74% of paid-up share capital. The company found this proposal unnecessary because, under the FEMA Non-debt Instruments Rules 2019 and the Consolidated FDI Policy (effective October 15, 2020), the aggregate FPI investment limit is already the applicable sectoral cap of 100%. The Board approved the withdrawal via circular resolution on July 23, 2025. Remaining agenda items 7 and 8 (the ESOP Scheme 2025 allowing up to 2.06 crore stock options, and its extension to subsidiary employees) are renumbered as items 6 and 7. All other items, including the re-appointment of Independent Director Mr. Harshan Kollara Sankarakutty, appointment of KSR & Co as Secretarial Auditor for five years, and revision in Whole-time Director Dr. Sumitha Nandan's remuneration to Rs. 20 lakh per month plus 10% minimum annual increment, remain unchanged. Remote e-voting runs from August 11 (9:00 a.m.) to August 13, 2025 (5:00 p.m.).
This is a procedural correction that simplifies the AGM agenda with no material impact on shareholders, since the existing 100% sectoral cap for FPI investment already provides greater flexibility than the proposed 74% limit. No direct effect on stock price is expected.