Manappuram Milestones

The important milestones and the achievements in the history of the company going back to its origins in 1949

In The Way of Trust and Excellence

2017

Awarded ‘Best NBFC for Gold Loan Business’ by the India Bullion Jewellery Association (IBJA), Mumbai, on March 16 at Mumbai
Co-branded Pre-paid Money Card in tie up with YES Bank and the MaKash e-Wallet launched on April 15
The Company’s shares are included in the derivative segment (futures & options) at NSE, effective June 30

2016

V.P. Nandakumar, MD & CEO, is one of the select few from India to be shortlisted for the CNBC Asia Business Leaders Award 2016 held at Jakarta, Indonesia, on November 23
Acquired 100% ownership of Manappuram Insurance Brokers Private Limited

2015

Awarded Jury’s Special Commendation at the Golden Peacock Awards for CSR.Acquired the Chennai based MFI, Asirvad Microfinance Pvt. Ltd. in February. Diversified into new business areas such as Home Loans and Commercial Vehicle finance.Launched online gold loan (OGL) in September/ October becoming the first in the Industry to do so. Celebrated 20 years of listing on the Bombay Stock Exchange with ceremonial ringing of the closing bell by Mr. V.P. Nandakumar and Mrs. Sushama Nandakumar (joint promoters) at the BSE on November 6

2014

Pioneered the introduction of shorter tenure loan products (3 to 9 months) with lower LTV for longer tenure loans
Acquired full ownership of Milestone Home Finance Private Limited from Jaypee Hotels Limited. Name changed to Manappuram Home Finance Private Limited.
Equity shares of the Company listed on the NSE (Listed on BSE in 1995)

2013

RIB issued key guidelines to bring stability to gold lending business, increases LTV for gold loans to 75%.

2012

AUM crosses Rs.10,000 crore
RBI tightens regulations, stipulates cap on LTV not to exceed 60%
Branch Network reaches 2,908, with more than 850 branches added in FY 2012

2011

Assets under Management (AUM) records threefold growth to Rs.7,549 crore
Adopts a new name, Manappuram Finance Ltd., in place of the earlier name Manappuram General Finance and Leasing Ltd.
Declared 1:1 bonus issue for the third time.

2010

Declared 1:1 bonus issue for second time
Total business volumes crossed Rs.5,000 crore
Raised Rs.245 crore through the QIP route Opens its 1001st Branch at Thrissur town
Superstars Mohanlal, Vikram, Venkatesh, Puneeth Rajkumar and Akshay Kumar among others becomes Manappuram’s brand ambassadors
Raised additional capital of Rs.1,000 crore from FIIs (through QIP
Stock split: Equity share of face value of Rs.10/- split into 5 shares of face value of Rs.2/- each.

2009

Manappuram Foundation established at Valapad in order to further the CSR mission of the Manappuram Group. The first initiative of the Foundation is “Janaraksha Manappuram Soujanya Arogya Insurance Scheme” providing free health insurance to 20,000 BPL families (covering over one lakh beneficiaries) in the seven panchayats of Nattika assembly constituency.

2008

Total business volumes of MAGFIL cross the Rs.1,000 crore milestone
More FIIs come in and Company raises Rs.70.75 crore

2007

First NBFC in Kerala to receive foreign institutional investment with Sequoia Capital and Hudson Equity Holdings investing Rs.70 crore.
First NBFC from Kerala to issue bonus shares in the ratio of 1:1

2006

Singapore government-owned investment fund Fullerton India/Temasek enters the picture with initial sanction of a credit limit of Rs.50 crore to MFL. Within a year, the limits are enhanced to Rs.475 crore.

2005

Attracted institutional funding for the first time, when ICICI Bank sanctioned working capital facility of Rs.25 crores under a ‘bilateral assignment’ model. Hitherto, MFL had been largely dependent on deposits from the public.

2003

Manappuram Finance (Tamil Nadu) Ltd. (MAFIT) was established with a registered office in Coimbatore, consequent upon the takeover of Sterling Gem Finance Pvt. Ltd. MAFIT was later merged with MAGFIL w.e.f. April 1, 2008
Declared Rights issue

2002

Commences foreign exchange business with moneychanger’s licence from the RBI. [Later, in 2007, it becomes first NBFC from Kerala to receive AD - II (Authorised Dealer - II) Licence from RBI]. The registered office is shifted to Valapad, Kerala.

1998

Becomes the first NBFC in Kerala to be given a Certificate of Registration by the RBI.
A major policy change sees MFL shifting its focus to gold loans.

1996

First NBFC in Kerala permitted by the RBI to accept deposits from the public without restrictions on the limit. The Company is also permitted to set its own interest rates.

1995

First NBFC from Kerala to go for a credit rating exercise. ICRA assigns rating of MA to its fixed deposit programme.
Approaches the capital market with its first Public Issue of shares for Rs.1.75 crore. The shares are listed on the Bombay, Madras and Cochin stock exchanges.

1994

Paid maiden dividend in the very first full year of operations (1994) and has maintained a track record of uninterrupted dividend payouts thereafter.

1992

Manappuram Finance Limited (MFL) was incorporated with registered office at Thrissur to conduct the business of financial services, especially leasing and hire purchase.

1986

Shri V.C. Padmanabhan passes away on june 13, 1986. His son Shri V.P. Nandakumar, then placed as an officer with Nedungadi Bank, taken over the reins of the business.

1949

Shri V.C. Padmanabhan, a visionary of his time, establishes Manappuram Finance at Valapad, a coastal village 25 kilometres away from Thrissur town. The main activity of the firm is money lending and gold loans. Over the years, the business flourishes and it acquires a reputation as a safe haven for the savings of the local people, offering good returns and total safety.