Manappuram Finance has reportedly infused Rs 264 crore in its microfinance arm, Asirvad Microfinance, through a rights issue. After this infusion, the company will hold 93.33% stake in Asirvad Microfinance.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.