Latest news with #VPNandakumar
Time of India
01-08-2025
- Business
- Time of India
Deepak Reddy takes charge as new CEO of Manappuram Finance Ltd.
As announced on May 9 2025, Manappuram Finance has appointed Deepak Reddy as Chief Executive Officer of the company with effect from Friday, i.e. August 1, 2025. V P Nandakumar , former Managing Director and CEO of Manappuram, now holds the position of MD in the company w.e.f. July 31, 2025. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Public Policy MBA healthcare Artificial Intelligence Data Science Leadership CXO Data Analytics Product Management Digital Marketing Project Management Degree Design Thinking PGDM Management Others Cybersecurity Healthcare Finance others Data Science Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details Reddy is said to report to former CEO Nandakumar, the company said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Reddy has more than 30 years of experience across the finance sector. "His leadership philosophy centres on empowering teams to envision, enable and execute, ensuring the organization remains future ready with next generation leaders," the company stated. He has previously worked in Bajaj FinServ Ltd for 17 years, American Express Bank Ltd for 9 years, Standard Chartered Bank for 1.5 years and JVC Onida (at MIRC Electronics Ltd) for 4.5 years. Live Events On BSE, shares of Manappuram Finance Limited were trading at Rs 250.70 per unit as on 10:24 AM on Friday.
Yahoo
21-03-2025
- Business
- Yahoo
Bain Capital to buy stake worth $508 million in India's Manappuram Finance
(Reuters) -India's Manappuram Finance said on Thursday Bain Capital would invest 43.85 billion rupees ($508 million) to acquire an 18% stake in the gold loan provider at a time record prices of the precious metal has made its mortgaging appealing. The asset manager will subscribe to Manappuram's shares and warrants at 236 rupees apiece, implying a 30% premium over its six-month average trading price. Bain Capital will be classified as a promoter of the company post-investment and will jointly control it with existing promoters. Households in India, the world's second-biggest gold consumer, typically buy bullion during festivals and weddings. Record prices make gold loans more attractive. Indian gold loan market is expected to reach around 14.19 trillion rupees by fiscal 2029 at a five-year compound annual growth rate of 14.85%, according to PwC. The deal, expected to close by the second or third quarter of the next financial year, will trigger a mandatory open offer for the purchase of an additional 26% stake from existing shareholders at the same price, India's second-largest gold loan provider said. Based on open-offer subscription, Bain Capital's stake post-investment will vary between 18% and 41.7%. Manappuram's promoters, which include its managing director and chief executive V P Nandakumar, will hold a 28.9% stake in the company. After the deal, Bain Capital will also have the right to influence strategic decisions at the company, including the right to nominate for appointment of key posts such as the CEO. Separately, Manappuram's microfinance arm Asirvad Micro Finance said it would withdraw its initial public offering draft papers due to uncertain market conditions. ($1 = 86.3290 Indian rupees)
