Manappuram Finance Ltd. Approves Borrowing Program, Appointments, and Additional Investments
Manappuram Finance Ltd. announced several key decisions following a board meeting held on March 30, 2026. The board approved a borrowing program for the financial year 2026-27, along with appointments and investments in subsidiary companies.The company approved a borrowing program totaling Rs. 7,400 Crore for FY 2026-27, which includes the potential issuance of redeemable non-convertible debentures. These debentures may be issued through private placement and/or public issue in one or more tranches, with listing on either the National Stock Exchange (NSE) or the Bombay Stock Exchange (BSE). Details regarding the tenure, coupon/interest rates, and security will be determined at the time of allotment.
Mr. Narayanan Easwaran was appointed as the Group Chief Technology Officer and a Senior Management Personnel, effective March 30, 2026. He brings over 25 years of experience in banking technology and digital transformation, previously working with institutions like Equitas Small Finance Bank, IDFC First Bank, ICICI Bank, and Kotak Mahindra Bank.
The board also approved an additional investment of up to Rs. 7,90,59,04,996 in equity shares of Asirvad Micro Finance Limited (AMFL), a subsidiary, priced at Rs. 44 per share. This investment will support AMFL's capital expenditure and working capital needs. AMFL's assets under management (AUM) as of March 31, 2025, were Rs. 8188.79 Crore, with a turnover of Rs. 2,705.43 Crore for FY 2025.
Additionally, Manappuram Finance Ltd. approved an investment of up to Rs. 1,50,00,00,000 in equity shares of Manappuram Home Finance Limited (MAHOFIN), another wholly owned subsidiary. The shares will be priced at Rs. 10 per share. MAHOFIN's AUM as of March 31, 2025, was Rs. 1823.88 Crore, with a turnover of Rs. 313.9089 Crore for FY 2025.
| 1 | Size of the issue | Rs. 7,400 Crore (Overall limit for FY 2026-27) |
|---|---|---|
| 2 | Whether proposed to be listed? If yes, name of the stock exchange(s) | As may be decided at the time of allotment by the Board of Directors or its Committee thereof, the NCDs shall be listed in either NSE or BSE. |
| 3 | Tenure of the instrument - date of allotment and date of maturity | As may be decided at the time of allotment by the Board of Directors or its Committee thereof. |
| 4 | Coupon/interest offered, schedule of payment of coupon/interest and principal | As may be decided at the time of allotment by the Board of Directors or its Committee thereof. |
| 5 | Charge/security, if any, created over the assets | As may be decided at the time of allotment by the Board of Directors or its Committee thereof. |
| 6 | Special right/interest/privileges attached to the instrument and changes thereof | As may be decided at the time of allotment by the Board of Directors or its Committee thereof. |
| Sl. No. | Particulars | Mr. Narayanan Easwaran |
|---|---|---|
| 1 | Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise | Appointed as Group Chief Technology Officer and a Senior Management Personnel of the Company |
| 2 | Date of appointment/re- appointment/ cessation (as applicable) & terms of appointment/re-appointment | 30.03.2026 |
| 3 | Brief profile | Mr. Narayanan Easwaran is an experienced technology professional with over 25 years in banking technology and digital transformation. He has worked with leading institutions including Equitas Small Finance Bank, IDFC First Bank, ICICI Bank, and Kotak Mahindra Bank. He brings expertise in technology strategy, digital initiatives, and IT governance, and has contributed to driving efficient and scalable technology solutions. As Group Chief Technology Officer (CTO), he will provide strategic technology leadership, strengthen digital capabilities, and support the Company’s growth and transformation objectives. |
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