Manappuram Finance Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on January 22, 2026
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Manappuram Finance has called an Extraordinary General Meeting on January 22, 2026 via video conferencing to seek shareholder approval on three items. The most significant is a proposal to raise the company's borrowing limit under Section 180(1)(c) of the Companies Act from Rs. 40,000 Crore to Rs. 75,000 Crore, along with corresponding permission to create charge on company assets. As of December 19, 2025, the company had already utilized Rs. 36,570.21 Crore of its existing limit, suggesting the increase is needed to fund further business expansion. The third item is a revision in the monthly salary of Whole-time Director Dr. Sumitha Nandan (daughter of MD & CEO V P Nandakumar), raised from Rs. 20,00,000 to Rs. 22,48,125 per month, effective September 1, 2025. E-voting will run from January 18 to January 21, 2026, with the cut-off date being January 15, 2026.
The near-doubling of the borrowing ceiling signals management's expectation of strong future growth and capital needs, but it also expands the room for higher leverage on the balance sheet. The director pay revision is modest, but shareholders may note that it relates to a related party (the MD's daughter), warranting attention to corporate governance norms.