Manappuram Finance Limited’s Board of Directors sanctioned a substantial borrowing program for FY 2026-27, setting a limit of ₹7,400 Crore via NCDs. The board also approved significant capital infusion into its subsidiaries: ₹790.59 crore for Asirvad Micro Finance Limited (AMFL) and ₹1,500 crore for Manappuram Home Finance Limited (MAHFL). Furthermore, Mr. Narayanan Easwaran was appointed as the new Group Chief Technology Officer, effective March 30, 2026.
Board Sanctions Major Funding and Capital Allocation
The Board of Directors of Manappuram Finance Limited, following its meeting on March 30, 2026, approved several key strategic decisions focusing on funding and management appointments.
Borrowing Program for FY 2026-27
The primary approval granted was for the company’s borrowing program for the Financial Year 2026-27. This program has an overall limit of Rs. 7,400 Crore. The borrowing will be executed through the issuance of redeemable non-convertible debentures (NCDs) via private placement and/or public issue across one or more tranches, as determined by the Board or its committees.
Strategic Investment in Subsidiaries
The Board sanctioned significant additional investments to bolster the capital base of its key subsidiaries:
- Asirvad Micro Finance Limited (AMFL): An investment up to Rs 7,90,59,04,996/- (approximately Rs 790.59 Crore) in equity shares, to be deployed in single or different tranches. This acquisition will increase the company’s holding in AMFL, currently at 98.56%, potentially up to 99.06%. AMFL’s turnover for FY 2024-25 was Rs. 2,705.43 Crore.
- Manappuram Home Finance Limited (MAHFL): An investment up to Rs 1,50,00,00,000/- (Rs 1,500 Crore) in equity shares. MAHFL is a wholly-owned subsidiary, and the infusion is intended to support its capex and working capital requirements. MAHFL’s turnover for FY 2024-25 stood at Rs. 313.9089 Crore.
Appointment of Group Chief Technology Officer
Based on the recommendation of the Nomination, Compensation and Corporate Governance Committee, the Board approved the appointment of Mr. Narayanan Easwaran as the Group Chief Technology Officer (CTO) and a Senior Management Personnel of the Company.
Mr. Easwaran is a seasoned technology professional with over 25 years of experience in banking technology and digital transformation, having worked with institutions like Equitas, IDFC First Bank, ICICI Bank, and Kotak Mahindra Bank. His appointment is effective from March 30, 2026. His mandate includes providing strategic technology leadership and strengthening digital capabilities.
Meeting Summary
The Board Meeting commenced at 05:00 P.M. and concluded at 06:30 P.M. on the same day.
Source: BSE
