Manappuram Finance’s Board of Directors has approved an increase in the company’s borrowing limits to ₹75,000 crores and the appointment of Mr. Buvanesh Tharashankar as Group Chief Financial Officer (CFO), effective December 26, 2025. The board also approved convening an Extraordinary General Meeting (EGM) to seek shareholder approval for these key decisions.
Increased Borrowing Capacity
The Board has authorized an increase in the company’s borrowing limits, potentially reaching up to ₹75,000 crores. This expanded capacity will enable the company to raise funds as needed, ensuring sufficient capital to meet its financial objectives. Shareholder approval will be sought for this increase at an upcoming Extraordinary General Meeting (EGM).
Creation of Charge/Pledge/Hypothecation/Mortgage
Alongside the increase in borrowing limits, the Board has also authorized the creation of charges, pledges, hypothecations, and mortgages on the company’s assets. This authorization extends to both movable and immovable properties, present and future, to secure borrowings up to an aggregate limit of ₹75,000 Crores.
Extraordinary General Meeting (EGM)
An Extraordinary General Meeting (EGM) will be held on January 22, 2026, at 11:00 AM via video conferencing. The purpose of this meeting is to obtain shareholder approval for the increase in borrowing limits and related resolutions.
Appointment of New Group CFO
Mr. Buvanesh Tharashankar has been appointed as the Group Chief Financial Officer (CFO), effective December 26, 2025. He is designated as Key Managerial Personnel. Ms. Bindu A.L. will continue to serve as Chief Financial Officer and Key Managerial Personnel of the Company.
Additional Investment in Subsidiary
The company will make an additional investment in equity shares of its subsidiary, Asirvad Micro Finance Limited (AMFL), up to Rs. 250 crores, in single or multiple tranches. AMFL’s turnover for FY2025 was Rs. 2,705.43 Crores.
Source: BSE
