Manappuram Finance Limited began its journey in the newly Independent India of 1949. Established by the late Shri V.C. Padmanabhan in Valapad in Thrissur District (Kerala), it started as a village brand focused focused on money lending and pawn broking carried out on a modest scale.
Manappuram’s transformation began in 1986 when the current MD and CEO (and son of Shri V.C. Padmanabhan), Mr. V.P. Nandakumar took charge of the enterprise. By then, even with its limited reach, Manappuram had acquired a reputation for trust, fair play and integrity amongst the customers. Over the decades, it had become well known as a safe-haven for the deposits of local people, offering them higher returns along with assured safety. Such was the reputation of the firm that even as it remained anchored in Valapad, the deposits came in from around the world, from locals who had moved elsewhere in search of employment.
It was this resolute trust, the goodwill which served as a hidden capital of the business. Incorporated in 1992 Manappuram Finance Limited (MAFIL), the company went in for an IPO in 1995. Since then the company has acquired scale and achieved several firsts that make it a name to reckon with in India’s NBFC space.