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Manappuram Finance utilized Rs 1175 crore from NCDs issued in March 2023
11-Aug-2026, 05:54
Manappuram Finance Limited disclosed a deviation in the utilization of funds raised through two separate Non-Convertible Debenture offerings totaling Rs 1.175 Crores, completed on March 17, 2023. Filings for the quarter ended June 30, 2026, indicate a variation in the use of proceeds, though neither document provides an explanation for the deviation, a significant omission that could raise concerns for investors. The filings, referencing debentures INE522D07CK1 and INE522D07CL9, also include incomplete tables detailing the original and modified objectives, with all fields marked "NA." While shareholder and audit committee approval were not required, and the filings appear to meet basic regulatory requirements, the lack of transparency regarding the deviation’s specifics and impact warrants further scrutiny.
Manappuram Finance Limited disclosed a deviation in the utilization of funds raised through two separate Non-Convertible Debenture offerings totaling Rs 1.175 Crores, completed on March 17, 2023. Filings for the quarter ended June 30, 2026, indicate a variation in the use of proceeds, though neither document provides an explanation for the deviation, a significant omission that could raise concerns for investors. The filings, referencing debentures INE522D07CK1 and INE522D07CL9, also include incomplete tables detailing the original and modified objectives, with all fields marked "NA." While shareholder and audit committee approval were not required, and the filings appear to meet basic regulatory requirements, the lack of transparency regarding the deviation’s specifics and impact warrants further scrutiny.