Manappuram Finance has secured its Board’s approval to invest up to Rs 250 crore in equity shares of the company’s subsidiary -- Asirvad Micro Finance (AMFL) in single/ different tranches. The fund infused by the company in AMFL will be used to support the capex and working capital requirements of AMFL.
AMFL is into the business of Micro Finance, Gold loan and MSME Loan. Post this transaction company’s shareholding in AMFL will increase to 98.56% stake from 98.31%.
Manappuram Finance is a Systemically Important Non-Deposit taking Non Banking Finance Company (NBFC). The company provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 959.10 |
| Shriram Finance | 1002.90 |
| Aditya Birla Capital | 370.45 |
| Chola Invest & Fin. | 1689.10 |
| Tata Capital | 344.65 |
| View more.. | |
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