VP Nandakumar, who has been spearheading the corporate as managing director since means again in 1992 when it was integrated, will step down from government position and develop into a non-executive chairman from January 1, 2027.
The Kerala-based lender has appointed Ashish Singh because the MD and CEO from subsequent 12 months. Singh shall be appointed for 5 years, topic to the approval of the shareholders, the corporate mentioned.
Singh, a banker with 25 years of expertise within the retail house, had been with IDFC First Financial institution as head of retail liabilities. Singh tendered his resignation from IDFC First on Tuesday, the financial institution mentioned in a inventory alternate submitting.
Non-public fairness main Bain Capital obtained Reserve Financial institution of India’s approval in February this 12 months to amass as much as 41.6% in Manappuram, following the preliminary settlement signed in March 2025.
In accordance with the deal, Bain Capital has the proper to appoint the CEO & different key managerial personnel for Manappuram Finance and group corporations. Bain additionally has the proper to materially affect the strategic determination making on the Kerala-based lender, whereas the prevailing promoters will maintain 28.9% stake on a totally diluted foundation.
Manappuram’s origin dates again to 1949 when Nandakumar’s father VC Padmanabhan began a pawn-broking and money-lending businessOn Tuesday, the non-banking monetary firm reported an over four-fold soar in first quarter consolidated web revenue at Rs 585 crore as in contrast with Rs 133 crore within the 12 months in the past interval. The property underneath administration grew by 57 year-on-year to Rs 69,635 crore in the course of the quarter.
The lender’s gold mortgage AUM reached Rs 57,006 crore, registering a 98% surge, at the same time as Nandakumar mentioned that “volatility in gold costs was a critical concern that affected general enterprise sentiment”. Its revenue from operations stood 34% greater at Rs 3,033 crore whereas web curiosity revenue rose 25% at Rs 1,759 crore.
The corporate board proposed an interim dividend of Rs one per fairness share of face worth of Rs 2 every.
ends
On Tue, Aug 11, 2026 at 9:36 PM Atmadip Ray <atmadip.ray@gmail.com> wrote:
Expensive On-line Crew
Please change the headline and likewise take the up to date copy
Manappuram to finish family-led period as Bain brings in an expert MD
Thanks
Manappuram to finish family-led period as Bain brings in an expert MD
Atmadip Ray
Kolkata: Gold mortgage firm Manappuram Finance on Tuesday introduced a management change, successfully remodeling it from a family-run enterprise to a professional-led mannequin following Bain Capital taking on joint management with the promoter’s household.
VP Nandakumar, who has been spearheading the corporate as managing director since means again in 1992 when it was integrated, will step down from government position and develop into a non-executive chairman from January 1, 2027.
The Kerala-based lender has appointed Ashish Singh because the MD and CEO
from subsequent 12 months. Singh shall be appointed for 5 years, topic to the approval of the shareholders, the corporate mentioned.
Singh, a banker with 25 years of expertise within the retail house, had been with IDFC First Financial institution as head of retail liabilities. Singh tendered his resignation from IDFC First on Tuesday, the financial institution mentioned in a inventory alternate submitting.
Non-public fairness main Bain Capital obtained Reserve Financial institution of India’s approval in February this 12 months to amass as much as 41.6% in Manappuram, following the preliminary settlement signed in March 2025.
In accordance with the deal, Bain Capital has the proper to appoint the CEO & different key managerial personnel for Manappuram Finance and group corporations. Bain additionally has the proper to materially affect the strategic determination making on the Kerala-based lender, whereas the prevailing promoters will maintain 28.9% stake on a totally diluted foundation.
Manappuram’s origin dates again to 1949 when Nandakumar’s father VC Padmanabhan began a pawn-broking and money-lending enterprise
On Tuesday, the non-banking monetary firm lender reported an over four-fold soar in first quarter consolidated web revenue at Rs 585 crore as in contrast with Rs 133 crore within the 12 months in the past interval. The property underneath administration grew by 57 year-on-year to Rs 69,635 crore in the course of the quarter.
The corporate’s gold mortgage AUM reached Rs 57,006 crore, registering a 98% surge, at the same time as Nandakumar mentioned that “volatility in gold costs was a critical concern that affected general enterprise sentiment”.
The corporate proposed an interim dividend of Rs one per fairness share of face worth of Rs 2/- every.
Its revenue from operations stood 34% greater at Rs 3,033 crore whereas web curiosity revenue rose 25% at Rs 1,759 crore.
