Manappuram Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on 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 through redeemable non-convertible debentures (NCDs), to be issued via private placement or public issue in multiple tranches. The board appointed Mr. Narayanan Easwaran as Group Chief Technology Officer, effective March 30, 2026. He brings over 25 years of experience in banking technology, having worked at Equitas SFB, IDFC First Bank, ICICI Bank, and Kotak Mahindra Bank. The company will invest up to Rs. 790.59 crore in its subsidiary Asirvad Micro Finance (AMFL) at Rs. 44 per share, raising its stake from 98.56% to up to 99.06%. AMFL had AUM of Rs. 8,188.79 crore and turnover of Rs. 2,705.43 crore in FY25. Additionally, up to Rs. 150 crore will be invested in wholly owned subsidiary Manappuram Home Finance (MAHOFIN) at Rs. 10 per share, supporting its growth. MAHOFIN's AUM stood at Rs. 1,823.88 crore as of March 31, 2025.
The large Rs. 7,400 crore NCD borrowing program signals continued expansion plans and refinancing needs, which could pressure debt servicing if asset quality weakens. Capital infusion into subsidiaries supports growth in microfinance and home finance verticals but increases the parent's capital outlay and exposure.