Manappuram Finance Limited granted 4,28,568 stock options to eligible employees under its Employee Stock Option Scheme 2025 (ESOP 2025) on June 23, 2026. The grant aims to incentivize employees through equity participation, with options vesting between one and five years from the date of allotment. The exercise price is determined by the Nomination, Compensation and Corporate Governance Committee, subject to a maximum discount of 20% on the market price of the shares on the grant date.

The scheme is compliant with the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2021. A total of 4,28,568 equity shares are covered by these options. The exercise period for vested options is a maximum of five years commencing from the date of each vesting. Shares arising from the exercise of vested options will not be subject to any lock-in period from the date of allotment.

ESOP Grant Details

The Board of Directors also addressed changes in senior management personnel effective June 23, 2026. Mr. Manikandan T.G., Head of the Information Technology Department, is no longer classified as a Senior Management Personnel (SMP) as he now reports to the Group CTO. Similarly, Mr. Satheesh Kumar M., Head of Administration, is no longer classified as an SMP due to a departmental realignment, with the Administration function now reporting to the Chief Human Resources Officer (CHRO).

An agenda item regarding the raising of funds up to ₹1,00,000 Crore, including through Non-Convertible Debentures and Commercial Papers, was deferred. The Board decided to consider this proposal at a subsequent meeting, subject to shareholder approval at the Annual General Meeting.

Manappuram Finance Limited has scheduled an Extra-ordinary General Meeting (EGM) on July 14, 2026, via video conferencing to seek shareholder approval for the appointment of six directors to its board. The meeting aims to ratify the appointments of two non-executive non-independent directors and four non-executive independent directors, all nominated for a five-year term commencing from May 05, 2026. This board expansion follows the company's adherence to agreements with investors and regulatory approvals from the Reserve Bank of India.

The board proposes to appoint Mr. Rishi Mandawat and Mr. Ashish Arvind Kotecha as Non-Executive Non-Independent Directors. Both individuals were nominated by investors BC Asia Investments XXV Limited and BC Asia Investments XIV Limited pursuant to a securities subscription agreement dated March 20, 2025. Their appointments are subject to shareholder approval via ordinary resolutions and are liable to retire by rotation.

Additionally, the company seeks approval for the appointment of four Non-Executive Independent Directors: Mr. Rajesh Kumar Rathanchand, Mr. Balaji Vijayaraghavan, Mr. Rakesh Bhatt, and Ms. Rosemary Sebastian. These appointments require special resolutions. The nominees bring extensive experience in financial services, risk management, and banking operations. Ms. Sebastian, a former Executive Director of the Reserve Bank of India, offers expertise in regulatory frameworks and financial supervision.

E-Voting and Meeting Details

Shareholders can participate in the meeting through remote e-voting, which will be available from 09:00 AM (IST) on Friday, July 10, 2026, until 05:00 PM (IST) on Monday, July 13, 2026. The cut-off date for determining shareholder eligibility is Tuesday, July 07, 2026. The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate the e-voting process.

Director Profiles

The resolutions are based on the recommendations of the Nomination, Compensation and Corporate Governance Committee. The independent directors have submitted declarations confirming they meet the criteria of independence under the Companies Act, 2013, and SEBI Listing Regulations. The remuneration for the independent directors will include sitting fees and commissions, subject to regulatory limits.