Manappuram Finance announced on Friday that it appointed senior banker and finance professional Buvanesh Tharashankar as its Group Chief Financial Officer (Group CFO).
The company’s board approved his appointment at a meeting held on December 26, 2025, based on the recommendation of its nomination, compensation, and corporate governance committee.
The Kerala-based NBFC said that Tharashankar will serve as Group CFO and be classified as Key Managerial Personnel with effect from December 26, 2025, while Bindu A. L. will continue as the company’s Chief Financial Officer.
As Group CFO, Buvanesh will provide strategic financial leadership across the Manappuram Group, working with the top management to strengthen financial governance and support long-term business strategy.
The company says he will focus on improving capital efficiency, supporting sustainable value creation and ensuring strong regulatory and compliance standards as the group scales up its diversified lending businesses.
Who is Buvanesh Tharashankar?
According to the company’s disclosure, Buvanesh is a Chartered Accountant with nearly three decades of experience in banking and financial services.
He was formerly the CFO of RBL Bank and Jana Small Finance Bank and spent over 26 years with Citibank in India and abroad (mostly in the Gulf region) in various leadership positions in the finance function.
His career has covered areas such as financial strategy, capital and balance sheet management, regulatory interface, governance, investor engagement and business analytics.
Manappuram Finance increases borrowing limit
The Manappuram board also approved a significant increase in the company’s borrowing limit to support future growth and funding needs.
Subject to shareholder approval, the company can now borrow up to Rs 75,000 crore by way of loans and debt instruments such as debentures and bonds, with related security to be created on its movable and immovable assets as required.
More investment in subsidiary
Further, the board cleared an additional equity investment of up to Rs 250 crore in its subsidiary Asirvad Micro Finance Limited (AMFL) to support its capex and working capital needs.
This cash infusion, at a price of Rs 51 per share, is expected to marginally raise Manappuram’s stake in AMFL from 98.31 per cent to up to 98.56 per cent, and reflects the group’s focus on scaling its microfinance, gold loan and MSME lending franchise, the company stated.
Despite the announcements, Manappuram Finance stock was trading more or less flat (up 0.15-0.19 per cent) on Friday at the NSE.
