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05 Apr 2026
Manappuram Finance Limited has completed a significant preferential issue worth ₹4,385 crore, as approved by its Committee of Directors during a meeting held on March 27, 2026. The transaction involved the allotment of equity shares and warrants to two Mauritius-based entities under the BC Asia Investments group.
Preferential Issue Details
The preferential issue comprised two key components with identical financial parameters:
Component Quantity Price per Unit Total Value Equity Shares 9,29,01,373 ₹236 ₹2,192.47 crore Warrants 9,29,01,373 ₹236 ₹2,192.47 crore Total Issue Size ₹4,385 crore
The equity shares, each carrying a face value of ₹2, were allotted to BC Asia Investments XXV Limited, while the warrants were issued to BC Asia Investments XIV Limited. Both entities are incorporated under Mauritius laws and maintain their permanent addresses at Ground Floor, Block 3, The Strand, Lakeside District, Beau Plan, Mauritius.
Regulatory Approvals and Compliance
The transaction received crucial regulatory clearances from the Reserve Bank of India through multiple communications. The RBI provided approval via its letter dated February 13, 2026, to the company directly, and additional letters dated March 18, 2026, to subsidiaries Asirvad Micro Finance Limited and Manappuram Home Finance Limited.
The preferential issue was executed in accordance with:
Companies Act, 2013 and associated rules
Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Securities subscription agreement dated March 20, 2025
Warrant Structure and Payment Terms
The warrants issued carry specific conversion and payment mechanisms:
Parameter Details Conversion Ratio 1 warrant = 1 equity share Exercise Period 4-18 months from allotment Initial Payment ₹548.12 crore (25% of warrant value) Balance Payment Due upon conversion
BC Asia Investments XIV Limited has already paid ₹5,48,11,81,007, representing 25% of the aggregate warrant subscription amount, with the remaining amount payable upon exercise and conversion of the warrants.
Listing and Market Integration
Both the subscription shares and equity shares resulting from warrant conversion will be listed on BSE Limited and National Stock Exchange of India Limited, ensuring compliance with applicable securities laws and providing liquidity to investors.
Meeting Proceedings
The Committee of Directors meeting commenced at 11:00 A.M. IST and concluded at 11:14 A.M. IST on March 27, 2026. The brief duration reflects the preparatory work completed prior to the formal approval, with all regulatory clearances and documentation already in place. Company Secretary Manoj Kumar V R communicated the outcome to stock exchanges through the formal intimation process.
Manappuram Finance Limited has issued a formal notice regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF) Authority, as per regulatory requirements for unclaimed dividends spanning seven consecutive years or more.
Regulatory Compliance and Notice Publication
The company published the notice on March 20, 2026, in Mathrubhumi (Thrissur Edition) and Business Line (All India Edition), fulfilling its obligations under the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. These rules, notified by the Ministry of Corporate Affairs and effective from September 7, 2016, mandate the transfer of shares with unclaimed dividends to the IEPF Authority.
Affected Shareholders and Timeline
Parameter: Details Transfer Period: Financial Year 2026-2027 Response Deadline: Three months from notice date Website Details: Available at www.manappuram.com Individual Communication: Sent to all affected shareholders
The company has proactively communicated with shareholders whose shares are liable for transfer and uploaded comprehensive details on its official website. Shareholders are advised to verify their status and take necessary action within the stipulated timeframe.
Share Certificate Impact and Procedures
For shareholders holding physical share certificates, the original certificates will automatically become cancelled and non-negotiable upon transfer to IEPF Authority. The company will issue Corporate Action instructions to depositories for shares held in DEMAT form. The details uploaded on the company website serve as adequate notice for the transfer process under the applicable rules.
Recovery Process and Contact Information
Shareholders can reclaim both unclaimed dividends and transferred shares from IEPF Authority by following prescribed procedures under the rules. All benefits accruing on such shares remain claimable through the proper channels.
Contact Details: Information Registrar: MUFG Intime India Private Limited Address: "Surya" 35, Mayflower Avenue, Behind Senthil Nagar, Sowripalayam Road, Coimbatore – 641028, TN Phone: +91 422 4958995, 2539835/836 Email: coimbatore@in.mpms.mufg.com
Company Response Timeline
If no communication is received from concerned shareholders within three months from the notice date, Manappuram Finance Limited will proceed with the transfer of shares to IEPF Authority following the stipulated regulatory procedures. The notice was signed by Company Secretary Manoj Kumar V.R on March 19, 2026, from the company's registered office in Valapad.
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