Manappuram Finance
Indian financial services company
From Wikipedia, the free encyclopedia
Manappuram Finance Ltd is an Indian non-banking financial company (NBFC) based in Valapad, Thrissur, Kerala.[3]It has more than 5000 branches across 28 states with assets under management (AUM) of ₹63798 crore and a workforce of more than 42,000.[4] As of 2026, the firm was serving a customer base of 26.5 lakh people [5].
| Formerly | Manappuram General Finance and Leasing Ltd[1] |
|---|---|
| Type | Public |
| Industry | Non-banking financial company |
| Founded | 1949 |
| Headquarters | Valapad, Thrissur, Kerala, India |
Key people | V. P. Nandakumar (MD & CEO) |
| Products |
|
| Revenue |  ₹6,749 crore (US$700 million) (FY23)[2] |
| ₹1,495 crore (US$160 million) (FY23)[2] | |
Number of employees | 42,000+ |
| Website | www |
History
The company was founded in 1949 by late V. C. Padmanabhan in Thrissur district. The company commenced its operations at Valappad, mainly with money lending activity on a very modest scale.
The group's flagship company, MAGFIL, was established in 1992 in the wake of economic reforms launched by the Government of India. Its activity was mainly pawn broking and money lending carried out on a modest scale.
Manappuram Finance Ltd. was listed on the Bombay Stock Exchange (BSE) in November 1995 following its initial public offering (IPO).[6]
In 2014, Manappuram Finance acquired Delhi-based Milestone Home Finance Company[7] and subsequently renamed the company as Manappuram Home Finance.[8] In 2015, Manappuram Finance acquired Asirvad Microfinance, a Chennai-based microfinance company.[9]
In March 2025, Bain Capital signed a definitive agreement to acquire an 18.6% stake in Manappuram Finance for ₹4,385 crore (US$460 million).[10] This transaction set off a mandatory open offer by Bain Capital for an additional 26% stake.[11]
In July 2026, Jinu Chandrasekhar was appointed as Interim Chief Risk Officer following the conclusion of Madhu Mohan A.M.'s tenure.[12]
As of August 2026, Manappuram Finance announced the introduction of 500 new branches. The same is to drive their gold loan sector [13]. The regional concentration of these branches will be focused on South India, with certain branches being opened in Maharashtra, Bihar, Bengal and Odisha. Given the consistent customer growth, the sector is projected to grow 25-30% [14]. During the same time period, Ashish Singh was appointed as the CEO and MD [15].
Employees
Controversies
In February 2012, the Reserve Bank of India (RBI) issued a warning to the general public against keeping deposits with Manappuram Finance.[19] In response, the company announced an immediate compliance to any of RBI's concerns and decided to constitute an independent committee under the chairmanship of Jagdish Capoor (former Deputy Governor of RBI and former chairman of HDFC Bank) to review relevant aspects of operations, systems, controls and organizational structure, including Board composition and effectiveness.[20]