Manappuram Finance has approved an additional equity infusion of up to ₹250 crore into its subsidiary Asirvad Micro Finance (AMFL) to support its capital expenditure and working capital needs. The Kerala-based NBFC currently holds a 98.31% stake in AMFL, which will increase to 98.56% post-infusion. The move underscores Manappuram’s commitment to strengthening its microfinance arm amid growing demand in the rural and semi-urban lending space. Additionally, the board appointed Buvanesh Tharashankar as Group Chief Financial Officer from December 26. He brings over three decades of experience, including leadership roles at RBL Bank, Jana Small Finance Bank, and Citibank across India and the Gulf. He has been designated as a Key Managerial Personnel, while existing CFO Bindu AL continues in her role. The company also proposed enhancing its borrowing limit to ₹75,000 crore through loans, debentures, or bonds, subject to shareholder approval, with assets pledged as security. This provides greater financial flexibility for future growth and funding requirements.

MANAPPURAM

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