According to IFC, the proposed project is a senior secured loan of up to US$ 100 million in equivalent INR in the Company through subscription to non-convertible debentures (NCDs) to an existing IFC portfolio client, Manappuram Finance Limited (MFL or the Company), for a tenor of up to 3 years. The proposed project supports underserved individuals in the economy with focus on directing a portion of the debt towards women borrowers.
The proposed project involves a debt investment by IFC’s of up to US$100 million.
MFL is promoted by Mr. V.P. Nandakumar who controls 34.5% of the total equity of the company. 29.8% is held by various foreign portfolio investors (Quinag Acquisition – 9.9%, Fidelity Investment Trust– 3.6%, Baring India Private Equity – 3.2%) while the balance is dispersed among the public and mutual funds.
MFL is a registered NBFC under the Reserve Bank of India (RBI) primarily offering gold loans, i.e., loans against pledge of gold jewelry. The Company was founded by Mr. V.C. Padmanabhan, father of current MD & CEO Mr. V.P. Nandakumar, in 1992 in Kerala. As on March 2022, MFL has consolidated assets under management (AUM) of INR 303bn (US$3.9bn) and a workforce of over 40,000. Its long-term debt is rated AA/stable by CRISIL.
MFL is headquartered in Thrissur (Kerala) and has 5,000 branches across 29 states in India on consolidated basis.
Manappuram Finance Limited
0487 - 3050301
Mailing Address Manappuram House, P.O Valapad, Thrissur, Kerala - 680567
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