Mumbai, March 31 -- The company's board approved borrowing program for the financial year 2026-27, which inter-alia includes issuance of redeemable non-convertible debentures of up to Rs 7,400 crore by way of private placement and/or public issue in one or more tranches.

Further, the company's board approved additional investment of Rs 7.90 crore in its subsidiary, Asirvad Micro Finance (AMFL), at Rs 44 per share, to be made in one or more tranches. The fund will be utilized to support the capex and working capital requirements of AMFL. Following the infusion, Manappuram Finance's stake in the subsidiary may increase to 99.06%.

Furthermore, the board also approved additional investment in its wholly owned subsidiary, Manappuram Home Fin...