Manappuram Finance Shares Edge Up Ahead of March 20 Board Meeting on Fundraising

Shares of

Finance Ltd saw an uptick of over 2% in early trading on March 18, 2025, as investor focus turned to a board meeting scheduled for Thursday, March 20. The company announced that its directors will convene to discuss a proposal for raising funds through various instruments, including equity shares, warrants, convertible securities, or debt securities. The fundraising could involve methods such as a preferential issue, private placement, qualified institutional placement, rights issue, or a combination, pending regulatory and shareholder approvals. However, the initial gains were short-lived, with the stock slipping into negative territory by 10 AM. The spotlight on Manappuram comes amid challenges in its microfinance segment, which weighed on its December quarter results. The company reported a consolidated net profit of Rs 282 crore for Q3FY25, impacted by a fourfold surge in bad loans and provisions from its microfinance arm, amounting to Rs 473 crore. Investors now await further clarity from the upcoming board decision.