Manappuram Finance on December 26 said its board has approved an additional investment of up to ₹250 crore in its subsidiary, Asirvad Micro Finance Limited. The investment will be made in one or more tranches and will raise Manappuram Finance’s stake in the subsidiary to 98.56 percent from 98.31 percent, at a price of ₹51 per share.
Despite the announcement, Manappuram Finance shares ended the session slightly lower at ₹313.90, bringing an end to the stock’s six-day winning streak.
Asirvad Micro Finance, which was acquired by Manappuram Finance in February 2015 with assets under management (AUM) of around ₹300 crore, has seen substantial growth over the years. Its AUM has now expanded to ₹8,189 crore, according to information available on the company’s website. The subsidiary primarily provides microfinance loans to low-income women, while also offering MSME loans and gold-backed lending products, segments that have witnessed strong demand this year.
In a separate development, Manappuram Finance’s board has approved the appointment of Buvanesh Tharashankar as the Group Chief Financial Officer. A Chartered Accountant with nearly 30 years of experience, Tharashankar has previously held senior leadership roles at RBL Bank, Jana Small Finance Bank and Citibank, both in India and overseas.
The company stated that in his new role, Tharashankar will oversee financial strategy across the Manappuram Group, focusing on strengthening governance, improving capital efficiency, supporting long-term growth initiatives and ensuring compliance with regulatory standards. His appointment is effective immediately, while Bindu AL will continue as Chief Financial Officer and Key Managerial Personnel of Manappuram Finance.
Additionally, the board has approved a proposal to increase the company’s borrowing limit to ₹75,000 crore.
On the market front, Manappuram Finance shares have gained over 9 percent in the past five trading sessions and touched a fresh 52-week high of ₹318.90 earlier in the day. The stock has risen more than 14 percent over the last six months and is up around 64 percent so far in 2025. The company currently trades at a price-to-earnings ratio of over 34.
