Manappuram Finance to invest Rs 250 crore in Asirvad MFI, appoints new Group CFO

Manappuram Finance share price

• Manappuram Finance to invest Rs 250 crore in Asirvad Micro Finance
• Buvanesh Tharashankar appointed as Group CFO
• Board approves increase in borrowing limit to Rs 75,000 crore

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Manappuram Finance on December 26 announced that its board has considered and approved an additional investment of Rs 250 crore in its subsidiary Asirvad Micro Finance. It also announced that it has appointed Buvanesh Tharashankar as the Group Chief Financial Officer.

The shares of the company closed in the red with marginal losses at Rs 313.90 apiece, snapping a six-session gaining streak.

Manappuram Finance's board okays investment in unit:

The company's board on December 26 considered and approved the plan to invest up to Rs 250 crore in its subsidiary Asirvad Micro Finance Limited in one or more tranches.

Manappuram Finance in February 2015 had acquired Tamil Nadu-based Asirvad Micro Finance with an AUM of about Rs 300 crore. Since its takeover, the AUM of the company has reached Rs 8,189 crore, according to the company's website.

The company will increase its stake in the subsidiary to 98.56 percent from 98.31 percent at Rs 51 per share.

The NBFC primarily offers microfinance loans to low-income women, fulfilling the credit aspirations of the unbanked and socially and economically disadvantaged population. Additionally, it provides MSME loans and loans against gold, which has seen a significant surge this year.

Manappuram Finance appoints new Group CFO:

Manappuram Finance's board has approved the appointment of Buvanesh Tharashankar as the Group Chief Financial Officer of the company. The Chartered Accountant, who comes with nearly three decades of experience across leading banking and financial services institutions, has served senior roles across RBL Bank, Jana Small Finance Bank, Citibank in India and overseas.

"In his role as Group CFO, Buvanesh will provide strategic financial leadership across the Manappuram Group. He will work closely with the leadership team to strengthen financial governance, support long-term business strategy, enhance capital efficiency and enable sustainable value creation while ensuring strong regulatory and compliance standards," the company said.

His appointment has taken effect from today. Notably, Bindu AL shall continue to hold the position of Manappuram Finance's Chief Financial Officer and Key Managerial Personnel.

Manappuram Finance's board okays proposal to hike borrowing limit:

Manappuram Finance added that its board has approved the plan to increase the borrowing limit of the company to up to Rs 75,000 crore.

Manappuram Finance share price history:

Manappuram Finance shares have gained more than 9 percent in the past five days. Earlier during the day, the stock extended its sharp gaining streak to hit a 52-week high of Rs 318.90 apiece before losing steam.

The stock has gained more than 14 percent in the past six months, and is up around 64 percent in 2025 so far. Its P/E ratio stands at over 34.

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