Monitoring agency report issue by Crisl Ratings Limited
MANAPPURAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Manappuram Finance received Rs. 2,740.59 crore from a preferential issue (equity shares + warrants) completed on March 27, 2026. Crisil Ratings, acting as monitoring agency, confirms no deviations in utilisation of proceeds as per the offer document. Of the deployed amount, Rs. 1,045.97 crore was used for onward lending (gold loans and MSME loans), Rs. 400 crore for repayment of outstanding borrowings, and Rs. 788.43 crore was infused into subsidiary Asirvad Microfinance Limited. Rs. 1,644.35 crore (75% of warrant proceeds) is yet to be received from warrant holders who have 4–18 months to convert. Rs. 2,938.97 crore remains unutilised, held in fixed deposits and current accounts.
No red flags — proceeds are being deployed as disclosed. The equity shares were issued at Rs. 236 and now trade at ~Rs. 297, creating ~26% unrealised gain for warrant holders, which incentivises timely conversion and reduces overhang risk for existing shareholders.