Manappuram Finance

Manappuram Finance Ltd is an Indian non-banking financial company based in Valapad, Thrissur, Kerala. Manappuram has over 4190+ branches across 25 states.

History

The company was founded in 1949 by late V. C. Padmanabhan in Thrissur district. The company commenced its operations at Valappad, mainly with money lending activity on a very modest scale.
The group's flagship company, MAGFIL, was established in 1992 in the wake of economic reforms launched by the Government of India. Its activity was mainly pawn broking and money lending carried out on a modest scale.
In 2014, Manappuram Finance acquired Delhi-based Milestone Home Finance Company and subsequently renamed the company as Manappuram Home Finance. In 2015, Manappuram Finance acquired Asirvad Microfinance, a Chennai-based microfinance company.
In March 2025, Bain Capital signed a definitive agreement to acquire an 18.6% stake in Manappuram Finance for. This transaction set off a mandatory open offer by Bain Capital for an additional 26% stake.

Controversies

In February 2012, the Reserve Bank of India issued a warning to the general public against keeping deposits with Manappuram Finance. In response, the company announced an immediate compliance to any of RBI's concerns and decided to constitute an independent committee under the chairmanship of Jagdish Capoor to review relevant aspects of operations, systems, controls and organizational structure, including Board composition and effectiveness.