Manappuram Finance’s board has approved an increase in the company’s borrowing limit to ₹75,000 crores. Additionally, the board greenlit an additional investment of ₹250 crores in Asirvad Micro Finance Limited (AMFL), a subsidiary. An Extra Ordinary General Meeting (EGM) will be convened on January 22, 2026, to seek shareholder approval. Mr. Buvanesh Tharashankar has been appointed as Group Chief Financial Officer.
Increased Borrowing Capacity
The Board of Directors has authorized an increase in the company’s borrowing limits, potentially reaching a total of ₹75,000 crores. This move aims to provide the company with greater financial flexibility for future operations and strategic initiatives. Shareholder approval will be sought for this increase.
Investment in Asirvad Micro Finance
The board has approved an additional investment of up to ₹250 crores in equity shares of Asirvad Micro Finance Limited (AMFL), a subsidiary of Manappuram Finance. This investment is intended to support AMFL’s capital expenditure and working capital requirements. AMFL’s turnover for FY25 was ₹2,705.43 Crores.
Appointment of Group CFO
Effective December 26, 2025, Mr. Buvanesh Tharashankar has been appointed as the Group Chief Financial Officer (CFO) of the company. He is designated as Key Managerial Personnel. Ms. Bindu A.L. will continue her role as Chief Financial Officer and Key Managerial Personnel of the Company.
Extra Ordinary General Meeting
An Extra Ordinary General Meeting (EGM) is scheduled for January 22, 2026, at 11:00 AM. The meeting will be held via Video Conferencing/Other Audio Visual Means (VC/OAVM) facility, allowing shareholders to participate remotely. The purpose of the EGM is to seek shareholder approval for resolutions related to the increased borrowing limit.
Background on New CFO
Mr. Buvanesh Tharashankar brings nearly three decades of experience in banking and financial services. He previously held senior roles at RBL Bank, Jana Small Finance Bank, and Citibank. His expertise includes financial strategy, capital management, regulatory interface, and business analytics.
Asirvad Microfinance Details
Asirvad Micro Finance Limited (AMFL) is a non-banking financial company (NBFC) focused on Micro Finance, Gold Loan, and MSME loans. The company was incorporated on August 29, 2007. Previous years’ turnover includes: FY 2024-25: ₹2,705.43 Crores, FY 2023-24: ₹2,681.31 Crores, FY 2022-23: ₹1,715.19 Crores.
Source: BSE
