Manappuram Finance Limited has completed the allotment of secured, non-cumulative, redeemable, non-convertible debentures worth Rs 500 crores. The company's Financial Resources and Management Committee approved the allotment on December 15, 2025, following the earlier approval for issuance.

Debenture Allotment Details

The committee has finalized the key terms and conditions for the debenture issuance:

Interest Payment Structure

The debentures carry an annual coupon rate of 8.00% with annual payment frequency. Interest payment dates are scheduled for December 15, 2026, and December 15, 2027. The company has incorporated penalty provisions, whereby in case of default in payment of interest or principal, an additional interest of 2.00% per annum over the coupon rate will be charged for the defaulting period.

Security and Asset Coverage

The debentures are secured by a first ranking pari-passu charge on all current assets, book debts, and receivables (both present and future) of the company. The security is created in favor of the Debenture Trustee, maintaining 100.00% security cover of the outstanding principal amounts and interest at all times until maturity. The company is required to maintain minimum security coverage in accordance with applicable SEBI guidelines.

Fund Utilization Strategy

The net proceeds from the debenture subscription will be exclusively utilized for deployment in business and growth of the asset book. The funds are earmarked for purposes permitted by RBI for bank finance and will not be used for capital market investments, onlending, speculative purposes, or other activities not permitted by regulatory authorities. Pending full utilization, the company may invest proceeds in money market instruments, mutual funds, or deposits with scheduled commercial banks.

Financial Position Overview

Based on the company's consolidated balance sheet, Manappuram Finance demonstrates strong financial fundamentals:

The debenture allotment represents a strategic move to strengthen the company's capital base and support its expansion plans in the NBFC sector.

Manappuram Finance Limited, a leading non-banking financial company (NBFC) in India, has announced a significant addition to its senior management team. Effective December 3, 2025, Ashish N Chandak will join the company as Group Chief Compliance Officer and Senior Management Personnel, bringing with him nearly three decades of extensive experience in the Banking, Financial Services, and Insurance (BFSI) sector.

Key Highlights of the Appointment

• Position: Group Chief Compliance Officer and Senior Management Personnel
• Effective Date: December 3, 2025
• Experience: Nearly 30 years in the BFSI sector

Ashish N Chandak's Professional Background

Chandak's impressive career spans various crucial areas within the financial industry:

• Previous Role: Chief Compliance Officer at YES Bank during its post-reconstruction phase
• Expertise: Business Development, Credit Risk Management, Advisory, Governance, Compliance, Anti-Money Laundering (AML), and Fraud Risk Management
• Notable Achievement: Structured over 200 transactions across Infrastructure, Real Estate, and Manufacturing sectors, facilitating financing exceeding ₹100 billion

Impact on Manappuram Finance

The appointment of Ashish N Chandak comes at a time when Manappuram Finance is showing strong financial performance. Based on the company's recent balance sheet data:

This appointment is likely to strengthen Manappuram Finance's compliance framework and governance practices, which is crucial for maintaining investor confidence and regulatory compliance in the rapidly evolving NBFC sector.

Chandak's Potential Contributions

Given his extensive experience, particularly in his previous role at YES Bank, Chandak is expected to:

1. Enhance the company's compliance and governance framework
2. Improve fraud risk management practices
3. Contribute to strategic decision-making in complex financial transactions
4. Strengthen the company's position in regulatory matters

As Manappuram Finance continues to grow, Chandak's expertise in evaluating and structuring large transactions could prove invaluable in the company's expansion strategies and risk management efforts.

The appointment of Ashish N Chandak as Group Chief Compliance Officer signals Manappuram Finance's commitment to maintaining robust compliance standards and strengthening its senior management team. This move is likely to be viewed positively by stakeholders and could contribute to the company's continued growth and stability in the competitive NBFC sector.