Manappuram Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on July 11, 2025.
MANAPPURAM · price
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The board of Manappuram Finance, at its meeting on July 11, 2025, approved two key items subject to shareholder approval at the upcoming AGM. First, the re-appointment of Mr. Harshan Kollara Sankarakutty (DIN: 01519810) as Non-Executive Independent Director for a second term of 5 years, effective August 28, 2025. Mr. Sankarakutty is a postgraduate in Economics with over 40 years of experience in banking and financial services, having held senior roles at ICICI Bank, Union Bank of India, Federal Bank, and Union Bank of California. Second, the board approved a new Employee Stock Option Scheme 2025 (ESOP 2025), under which up to 2,06,44,749 (about 2.06 crore) stock options can be granted to eligible employees of the company and its subsidiaries. The exercise price will be determined by the committee with up to a 20% discount on the market price, and vesting will happen over 1 to 5 years.
The re-appointment ensures continuity of an experienced independent director on the board, which is generally seen positively by investors. The new ESOP scheme, if approved, could lead to dilution of up to around 2.06 crore shares and is designed to align employee interests with shareholders, though it may slightly dilute existing equity over time.