Manappuram Finance pops 3% ahead of board meet today; key details here

Manappuram Finance share price: Manappuram Finance shares were buzzing in early trade as the scrip popped as much as 2.82 per cent to hit an intraday high of Rs 220 per share, on Thursday, March 20, 2025. 

 

However, at 10:10 AM, Manappuram Finance shares were off highs and slipped into the negative zone, trading marginally (0.35 per cent) lower at Rs 213.20 per share. In comparison, BSE Sensex was trading 0.44 per cent at 75,784.66 levels.

 

The rise in the Manappuram Finance share price came in anticipation of the Board meeting, which is scheduled for today, March 20, 2025. The board may consider raising funds via one or more instruments/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.

 

In an exchange filing, Manappuram 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 as may be required including the approval of the members of the Company, and to approve such ancillary actions in relation to the above as may be required.”  

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The company further said that the Board would also consider convening an extraordinary general meeting for seeking approval of the members of the company in respect of the aforesaid proposal of fund raising, as may be required.

 

About Manappuram Finance

 

Manappuram Finance is among India's leading non-banking financial companies (NBFCs), specialising in gold loans. 

 

Established in 1949 in the coastal village of Valapad, Thrissur District, by V C Padmanabhan, the company initially focused on pawn broking and money lending on a small scale. 

 

The company witnessed strong growth since V P Nandakumar, the current Managing Director and CEO, took over in 1986 after his father’s passing. Under his leadership, the company has expanded rapidly, incorporating as Manappuram Finance Ltd. in 1992.   ALSO READ | Here's what triggered 8% rally in Dhani Services; stock up 17% in 3 days

 

Today, it operates 5,073 branches across 28 states and Union Territories, with assets under management (AUM) of Rs. 302.6 billion and a dedicated workforce of over 41,000 employees.

 

The market capitalisation of Manappuram Finance is Rs 18,045.99 crore, according to BSE. The company falls under the BSE 500 category.