The board meeting of Manappuram Finance is set to commence today, Thursday (March 20, 2025), to discuss and evaluate a proposal for raising funds. The company announced that the funds may be raised through equity shares, warrants, or other securities convertible into equity shares.
In an exchange filing, Manappuram Finance stated: “A meeting of the Board of Directors of Manappuram Finance Limited is scheduled to be held on Thursday, March 20, 2025, to consider and evaluate a proposal for raising of funds by way of issue of one or more instrument/securities including equity shares, warrants or other securities convertible into equity shares of the Company or debt securities. The fundraising may be conducted through preferential issue, private placement, qualified institutional placement, rights issue, or any other methods as deemed appropriate, subject to regulatory and statutory approvals.”
As per the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the company also announced the closure of its trading window. The trading window until the conclusion of the board meeting on March 20, 2025, and will reopen on March 24, 2025.
As of 10:20 am on Thursday, Manappuram Finance stock was trading at Rs 212.80, down 0.52 per cent from its previous close, after opening at Rs 217. On Wednesday, the stock had closed 1.14 per cent higher at Rs 213.61.
Manappuram Finance Q3 results
Manappuram Finance reported a weaker-than-expected profit for the third quarter due to stress in its microfinance business, including a temporary ban on issuing loans. The company’s microfinance unit saw bad loans and provisions surge four-fold to Rs 473 crore, significantly impacting overall financials.
For the October-December quarter, Manappuram Finance’s consolidated net profit halved to Rs 282 crore (32.5 million dollars), missing analysts’ estimates of Rs 459 crore, as per LSEG data. Total provisions for the quarter stood at Rs 555 crore, with microfinance accounting for a major portion of the stress.
About Manappuram Finance
The company, incorporated in 1992, has expanded its operations nationwide and has built a strong presence in the financial sector.
With a strong focus on serving lower socio-economic segments, the company has earned a reputation as a trusted financial institution. Under the leadership of Managing Director and CEO V P Nandakumar, Manappuram Finance continues to expand its service offerings across India.
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