Here's why Manappuram Finance shares rose 2% on March 18; key details here

Manappuram Finance share price: Gold loan financier Manappuram Finance share price rose up to 1.97 per cent to hit an intraday high of 213.80 per share.

 

The rise in Manappuram Finance share price came after the company announced that the board of directors will consider raising funds on Thursday, March 20, 2025. 

 

In an exchange filing, Manapppuram Finance said, “We wish to inform you that a meeting of the Board of Directors of Manappuram Finance is scheduled to be held on Thursday, March 20, 2025 inter alia, 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 by way of preferential issue on a private placement basis, qualified institutional placement, rights issue or any other methods or combinations thereof as may be considered appropriate, subject to such regulatory/ statutory approvals.”

 

Moreover, the company revealed that the Board would also consider convening an extra-ordinary general meeting to seek approval of the members of the company in respect of the aforesaid proposal of fund raising, as may be required.

 

Manappuram Finance Q3 results

 

Manappuram Finance reported a third-quarter profit that missed analysts' estimates, hurt by the stress in its microfinance business, including a quarter-long ban from issuing loans.

 

The company's consolidated net profit halved to Rs 282 crore ($32.5 million) in the quarter, missing analysts' average estimate of Rs 459 crore, as per data compiled by LSEG. READ MORE

 

About Manappuram Finance

 

Manappuram Finance, established in 1949, is a non-banking financial company (NBFC), known for offering a diverse range of financial services such as gold loans, microfinance, affordable home loans, and more. 

 

With a strong focus on serving the lower socio-economic segments, Manappuram Finance has become a trusted name in the financial sector. The company was incorporated in 1992 and has since expanded its reach across the nation.

 

Under the leadership of V P Nandakumar, the managing director and CEO, Manappuram Finance has flourished and continues to grow its business operations, which include providing instant gold loans, microfinance solutions, vehicle finance, and both secured and unsecured credit. The company also boasts an extensive network of over 5,000 branches spread across 28 states and union territories, ensuring wide accessibility to its services.

 

The market capitalisation of Manappuram Finance is Rs 17,995.20 crore, according to BSE. The company falls under the BSE 500 category. 

 

At 1:50 PM, Manappuram Finance share was trading 1.41 per cent higher at Rs 212.60. In comparison, BSE Sensex was trading 1.24 per cent higher at 75,086.08 levels.