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| Formerly | Manappuram General Finance and Leasing Ltd[1] |
|---|---|
| Type | Public |
| Industry | Non-banking financial company |
| Founded | 1949 |
| Headquarters | Valapad, Thrissur, Kerala, India |
Key people | V. P. Nandakumar (MD & CEO) |
| Products |
|
| Revenue |  ₹6,749 crore (US$700 million) (FY23)[2] |
| ₹1,495 crore (US$160 million) (FY23)[2] | |
Number of employees | 42,000+ |
| Website | www |
Manappuram Finance Ltd is an Indian non-banking financial company (NBFC) based in Valapad, Thrissur, Kerala.[3]It has more than 5000 branches across 28 states with assets under management (AUM) of ₹63798 crore and a workforce of more than 42,000.[4]
History
[edit]The company was founded in 1949 by late V. C. Padmanabhan in Thrissur district. The company commenced its operations at Valappad, mainly with money lending activity on a very modest scale.
The group's flagship company, MAGFIL, was established in 1992 in the wake of economic reforms launched by the Government of India. Its activity was mainly pawn broking and money lending carried out on a modest scale.
Manappuram Finance Ltd. was listed on the Bombay Stock Exchange (BSE) in November 1995 following its initial public offering (IPO).[5]
In 2014, Manappuram Finance acquired Delhi-based Milestone Home Finance Company[6] and subsequently renamed the company as Manappuram Home Finance.[7] In 2015, Manappuram Finance acquired Asirvad Microfinance, a Chennai-based microfinance company.[8]
In March 2025, Bain Capital signed a definitive agreement to acquire an 18.6% stake in Manappuram Finance for ₹4,385 crore (US$460 million).[9] This transaction set off a mandatory open offer by Bain Capital for an additional 26% stake.[10]
In July 2026, Jinu Chandrasekhar was appointed as Interim Chief Risk Officer following the conclusion of Madhu Mohan A.M.'s tenure.[11]
Controversies
[edit]In February 2012, the Reserve Bank of India (RBI) issued a warning to the general public against keeping deposits with Manappuram Finance.[12] In response, the company announced an immediate compliance to any of RBI's concerns and decided to constitute an independent committee under the chairmanship of Jagdish Capoor (former Deputy Governor of RBI and former chairman of HDFC Bank) to review relevant aspects of operations, systems, controls and organizational structure, including Board composition and effectiveness.[13]
References
[edit]- ↑ "Manappuram General Fin renamed". The Hindu Businessline. 24 June 2011. Retrieved 25 June 2023.
- 1 2 "Manappuram Finance Ltd reports consolidated PAT of Rs. 413.37 crores in Q4 FY2023". EquityBulls. 12 May 2023. Retrieved 25 June 2023.
- ↑ "Manappuram Gen Fin to expand operations". The Hindu. Archived from the original on 10 May 2011. Retrieved 7 May 2010.
- ↑ https://www.manappuram.com/basic-information
- ↑ "BSE Listing".
- ↑ Gooptu, Biswarup (13 March 2014). "Manappuram Finance acquires Milestone Home Finance Company from Jaypee Hotels". The Economic Times. Retrieved 25 June 2023.
- ↑ "Manappuram Home Finance Limited" (PDF). CARE Ratings. Retrieved 25 June 2023.
- ↑ Rebello, Joel (13 February 2015). "Manappuram buys microfinance company Asirvad". Mint. Retrieved 25 June 2023.
- ↑ "Bain Capital to acquire 18% stake in Manappuram Finance for ₹4,385 crore". The Hindu. 20 March 2025. ISSN 0971-751X. Retrieved 20 May 2025.
- ↑ Ray, Atmadip (23 September 2025). "Sebi approves Bain Capital open offer for Manappuram Finance stake". The Economic Times. Retrieved 24 September 2025.
- ↑ https://www.kalkine.co.in/article/announcements/manappuram-finance-nsemanappuram-who-takes-over-as-interim-cro-after-tenure-ends
- ↑ "Manappuram raising deposits illegally: RBI". The Times Of India.
- ↑ "Manappuram Fin 'will ensure' compliance with RBI norms".
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