The company declared an interim dividend of ₹1 per equity share of face value ₹2 each, representing a 50% payout. The record date for payment of the interim dividend is August 17, 2026.
Manappuram Finance also proposed raising funds, including through the issuance of listed Non-Convertible Debentures (NCDs)/bonds and Commercial Papers, as part of a proposed increase in its borrowing limit to ₹1 lakh crore.
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The proposed enhancement of borrowing limits is subject to shareholder approval under Section 180(1)(c) of the Companies Act, 2013.
The company has also appointed Ashish Singh as Managing Director and Chief Executive Officer and Key Managerial Personnel, effective January 1, 2027, for a five-year period, subject to shareholder approval.
V.P. Nandakumar will continue as Managing Director and Chairperson of the company until December 31, 2026. He will be redesignated as Non-Executive Chairperson of the Board with effect from January 1, 2027, with the redesignation taking effect automatically from that date.
Subject to shareholder approval, the company also proposed a variation in the objects relating to utilisation of funds raised through the preferential issue of ₹9.29 crore equity shares allotted to BC Asia Investments XXV Limited and ₹9.29 crore warrants allotted to BC Asia Investments XIV Limited on a private placement basis.ALSO READ | Falling gold prices put gold financiers Manappuram, Muthoot and others under pressure
The preferential issue was approved by shareholders at the company’s extraordinary general meeting held on April 16, 2025. Shares of Manappuram Finance Ltd ended at ₹367.50, up by ₹0.50, or 0.14%, on the BSE.
