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

2015

Diversified into Home Loan and Commercial Vehicle lending,
Acquired Asirvad Microfinance
Launched Online Gold Loan (OGL)
 

2014

Pioneered the Introduction of shorter tenure loans product (3 to 9 months). Lower LTV for longer tenure loans

2013

RBI issued key guidelines to bring stability to gold lending business, increases LTV for gold loans to 75 %,
Gold prices peaked at Rs. 32,943 per gm

2012

AUM crosses Rs.10,000 crore,
RBI stipulates cap on LTV not to exceed 60%,
Company’s branch Network reaches 2,908, with more than 850 branches added in FY12

2011

Assets under Management (AUM) records three-fold growth to Rs.7,549 crore in FY 2010-11,
The company adopts a new name, Manappuram Finance Ltd., in place of the earlier name Manappuram General Finance and Leasing Ltd.

2010

March: MAGFIL opens its 1001st Branch at Thrissur town,
Kerala superstar Mohanlal signs on to become the brand ambassador for MAGFIL in Kerala. Later, superstars Vikram in Tamil Nadu, Venkatesh in Andhra Pradesh and Puneeth Rajkumar in Karnataka also become brand ambassadors for Manappuram,
June: Bollywood action-hero and superstar Akshay Kumar announces his endorsement of Brand Manappuram,
November: Company raises additional capital of Rs.1,000 crore from FIIs (through QIP).

2009

Manappuram Foundation established on October 24, 2009 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 in August, 2008. Remarkably, within the next two years (i.e. by October 2010), total business volumes cross Rs.5,000 crore.

2007

First NBFC in Kerala to receive foreign institutional investment in December 2007 with Sequoia Capital and Hudson Equity Holdings investing Rs.70 crore. In November, 2008 more FIIs come in and company raises Rs.70.75 crore. In April 2010, a further Rs.245 crore is raised through the QIP route,
MFL becomes first NBFC from Kerala to issue bonus shares in the ratio of 1:1. The feat is repeated in April 2010 with another 1:1 bonus issue.

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

In a significant breakthrough, MFL attracts institutional funding for the first time when ICICI Bank sanctions working capital facility of Rs.25 crore under a “bilateral assignment” model. Hitherto, MFL had been largely dependent on deposits from the public.

2003

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

2002

MFL commences foreign exchange business with moneychanger’s license from RBI. (Later, in 2007, it becomes first NBFC from Kerala to receive AD- II (Authorised Dealer - II) License from RBI.)

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

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

1995

MFL becomes first NBFC from Kerala to go for a credit rating exercise. ICRA assigns rating of MA to its fixed deposit programme,
MFL 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.

1992

Manappuram Finance Limited (MFL) is incorporated with registered office at Thrissur to carry on the business of financial services, especially leasing and hire purchase. The company pays its maiden dividend in the very first full year of operations (1994) and maintains a track record of uninterrupted dividend payouts thereafter. In 2002, the registered office is shifted to Valapad.

1986

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

1949

Shri V.C. Padmanabhan, a visionary of his times, 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.