Manappuram Finance Welcomes Deepak Reddy as New CEO, V P Nandakumar Continues as Managing Director

1 min read     Updated on 01 Aug 2025, 09:35 AM
scanxBy ScanX News Team
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Overview

Manappuram Finance Limited has appointed Deepak Reddy as CEO, effective August 1, 2025. V P Nandakumar's role changes from 'Managing Director & CEO' to 'Managing Director' as of July 31, 2025. Reddy will report directly to Nandakumar in the new structure. The company has disclosed these changes to relevant stock exchanges in compliance with SEBI regulations.

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*this image is generated using AI for illustrative purposes only.

Manappuram Finance Limited , a prominent player in the Indian financial services sector, has announced a significant leadership transition. Deepak Reddy has officially assumed the role of Chief Executive Officer (CEO) at the company, effective August 1, 2025. This appointment marks a new chapter in Manappuram Finance's corporate governance structure.

Leadership Transition

The appointment of Deepak Reddy as CEO was initially disclosed to the stock exchanges on May 9, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's board of directors had strategically planned this transition, setting August 1, 2025, as the effective date for Mr. Reddy to take the helm as CEO.

Changes in Executive Roles

Concurrent with Deepak Reddy's appointment, the company has also announced modifications to the role of V P Nandakumar, a key figure in Manappuram Finance's leadership:

  • V P Nandakumar's designation has been changed from "Managing Director & CEO" to "Managing Director".
  • This change became effective on July 31, 2025, at the end of business hours.
  • Nandakumar will continue to serve as the Managing Director of Manappuram Finance Limited.

Reporting Structure

In the new organizational structure:

  • Deepak Reddy, as the new CEO, will report directly to V P Nandakumar, the Managing Director.
  • This arrangement ensures continuity in leadership while introducing fresh perspectives at the executive level.

Corporate Governance and Transparency

Manappuram Finance has promptly communicated these changes to the relevant stock exchanges, including:

  • BSE Limited
  • National Stock Exchange of India Limited
  • India International Exchange (IFSC) Ltd

This timely disclosure aligns with the company's commitment to transparency and adherence to regulatory requirements.

The appointment of Deepak Reddy as CEO, coupled with the continued involvement of V P Nandakumar as Managing Director, signals Manappuram Finance's focus on blending experienced leadership with new executive talent. As the company moves forward under this new leadership structure, stakeholders will be keenly watching how this transition influences the company's strategic direction and operational performance in the competitive financial services landscape.

Historical Stock Returns for Manappuram Finance

1 Day5 Days1 Month6 Months1 Year5 Years
-2.04%-6.68%-10.86%+25.33%+16.01%+55.72%
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Manappuram Finance Withdraws FPI Investment Limit Proposal from AGM Agenda

1 min read     Updated on 24 Jul 2025, 08:17 PM
scanxBy ScanX News Team
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Overview

Manappuram Finance Limited has withdrawn the proposal to increase the Foreign Portfolio Investor (FPI) holdings ceiling to 74% from its upcoming 33rd Annual General Meeting agenda. The decision was made after discovering that existing regulations already allow 100% FPI investment in the NBFC sector. The company has issued an addendum to the AGM notice, renumbered the remaining agenda items, and will enable e-voting for the updated resolutions. The AGM is scheduled for August 14, 2025, with remote e-voting available from August 11 to 13, 2025.

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*this image is generated using AI for illustrative purposes only.

Manappuram Finance Limited , a leading non-banking financial company (NBFC), has announced the withdrawal of a key agenda item from its upcoming 33rd Annual General Meeting (AGM) scheduled for August 14, 2025. The company has decided to remove the proposal to increase the ceiling limit for Foreign Portfolio Investor (FPI) holdings to 74% of its paid-up share capital.

Regulatory Alignment

The decision to withdraw the proposal comes after the company's discovery that existing regulatory provisions already allow for 100% FPI investment in the NBFC sector. According to the company's statement, the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, and the Consolidated FDI policy permit full FPI investment without requiring additional shareholder approval.

Impact on AGM Proceedings

As a result of this withdrawal, the remaining agenda items for the AGM have been renumbered accordingly. The company has issued an addendum to the AGM notice, which forms an integral part of the original notice dated July 11, 2025.

Shareholder Communication

Manappuram Finance has taken steps to ensure all stakeholders are informed of this change:

  1. The addendum has been made available on the company's website and the stock exchanges where its securities are listed.
  2. A newspaper advertisement will be published on July 25, 2025, in both Malayalam and English languages.
  3. The company has requested all concerned parties, including shareholders, stock exchanges, depositories, and regulatory authorities, to take note of this withdrawal.

Voting Implications

The e-voting facility offered by the company will now be enabled for all resolutions pertaining to Agenda Item Nos. 1 to 7 (as renumbered) proposed to be transacted at the AGM. The remote e-voting period is scheduled from August 11, 2025 (9:00 a.m. IST) to August 13, 2025 (5:00 p.m. IST).

Management Commentary

CS Manoj Kumar V R, Company Secretary of Manappuram Finance Limited, stated, "This withdrawal ensures our compliance with the latest regulatory framework while simplifying our AGM proceedings. We remain committed to transparent communication with our shareholders and regulatory bodies."

The withdrawal of this agenda item reflects Manappuram Finance's proactive approach to aligning with regulatory requirements and streamlining its corporate governance processes. Shareholders and investors are advised to refer to the addendum in conjunction with the original AGM notice for a complete understanding of the updated agenda.

Manappuram Finance Limited continues to focus on its core business operations and growth strategies in the evolving financial services landscape.

Historical Stock Returns for Manappuram Finance

1 Day5 Days1 Month6 Months1 Year5 Years
-2.04%-6.68%-10.86%+25.33%+16.01%+55.72%
Manappuram Finance
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