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VERIFIEDET Finance·positive
Manappuram ends family-led era as Bain brings in a professional CEO
AI Summary
- ·Bain Capital has gained joint control of Manappuram Finance, leading to a shift to professional management.
- ·Ashish Singh will assume the role of MD and CEO starting January 2027, while VP Nandakumar will transition to non-executive chairman.
- ·Manappuram Finance reported a first-quarter profit increase of over four-fold, reaching ₹585 crore.