Manappuram Finance Boosts Asirvad MFI with Rs 250 Cr Investment, Appoints New Group CFO

• Manappuram Finance to invest an additional Rs 250 crore in its subsidiary, Asirvad Micro Finance.
• Buvanesh Tharashankar appointed as the new Group Chief Financial Officer (CFO) for Manappuram Group.
• The investment will increase Manappuram's stake in Asirvad MFI to 98.56% from 98.31%.
• Asirvad MFI's AUM has grown from Rs 300 crore in 2015 to Rs 8,189 crore under Manappuram's ownership.
• Board also approved increasing the company's borrowing limit to Rs 75,000 crore.

Why It Matters: Manappuram Finance strengthens its microfinance arm and leadership, boosting financial capacity.