MANAPPURAM

Aug 8 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• JUNE QUARTER CONSOL NET PROFIT 1.38 BILLION RUPEES

• JUNE QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 22.62 BILLION RUPEES

Source text - https://bit.ly/45uG7Ig

Further company coverage: MNFL.NS

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June 24 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• INDIA COMPETITION REGULATOR: APPROVES PROPOSED COMBINATION FOR ACQUISITION IN MANAPPURAM FINANCE, MANAPPURAM ASSET FINANCE BY BAIN CAPITAL

Source text: [ID:]

Further company coverage: MNFL.NS

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** Gold financiers Manappuram Finance MNFL.NS up 1.5%, Muthoot Finance MUTT.NS rises nearly 2.5% and IIFL Finance IIFL.NS gains 3.6%

** MUTT, MNFL extend record high levels, IIFL at highest level since Nov 6

** RBI on Friday relaxed norms for small-ticket loans

** Gold loan rules remove overhang of possible impact on loan growth on financiers as previously proposed draft had tighter norms - Jefferies

** Jefferies picks MUTT as top bet in gold lending space

** YTD - MNFL up 34%, MUTT gains 17.5% YTD, and IIFL rises 12% YTD

(Reporting by Sethuraman NR)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Indian gold financiers jump

** Manappuram Finance MNFL.NS up ~3%, while Muthoot Finance MUTT.NS and IIFL Finance IIFL.NS jump ~7% and ~5%, respectively

** Reserve Bank of India will finalise regulations on gold loans by early next week, chief Sanjay Malhotra says

** Adds aims to increase loan-to-value ratio to 85% from 75% currently for loans below 250,000 rupees ($2,916)

** Loan-to-value ratio compares the loan amount to the asset's value

** The proposal of a higher LTV is a big positive and will boost credit growth for gold lenders, especially Muthoot and Manappuram, says Elara Securities analyst Shweta Daptardar

** No credit appraisals required for loans up to 250,000 rupees also positive for these lenders with minimal disruption to existing operational systems, Daptardar adds

** On an avg, MUTT is rated "buy", MNFL "hold" and IIFL "strong buy" - data compiled by LSEG

** YTD MUTT up 14%, MNFL up 28% and IIFL 8% higher

($1 = 85.7180 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Indian gold loan financiers up between 2% to 8%

** Federal finance ministry seeks relaxation in the new rules on gold loans proposed by the central bank

** Muthoot Finance MUTT.NS up 7.59%, Manappuram Finance MNFL.NS up 3.1% and IIFL Finance up IIFL.NS up 2.16%

** Central bank, in April, proposed tighter rules for monitoring and disbursement of gold loans, often used by low income borrowers

** Finance Ministry proposes small ticket borrowers below 200,000 rupees ($2344.05) should be excluded from the tighter rules to ensure speedy disbursements

** Final rules by central bank yet to be issued as it seeks comments

** MUTT said in mid-May that the proposed central bank regulations could drive borrowers away from formal lenders to unregulated players

(Reporting by Ananta Agarwal in Bengaluru)

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** Gold loan providers Muthoot Finance MUTT.NS and IIFL Finance IIFL.NS extend losses from Wednesday, losing 6% and 1.2% respectively; markets shut on Thursday

** Manappuram Finance MNFL.NS inches up 0.2%

** India's central bank proposed stricter rules for gold loan providers on Wednesday, including cap of 75% on loan-to-value ratio, standardised procedure to assess gold purity, rules on collateral management

** Kotak Institutional Equities downgrades MUTT to 'ADD' from 'BUY', moderating growth and margin assumptions

** Says it expects overhang of regulatory changes to temper stock performance

** Macquarie says LTV rules could reduce effective LTV of product given buffers needed for gold price fluctuations, interest payments, while new rules on collateral management could hit potential demand

** Muthoot Finance fell 6.7%, IIFL Finance lose 2.5%, Manappuram Finance declined 1.8% on Wednesday after RBI proposal

** Broader market .NSEI climbs 1.6% on Friday on U.S. tariff reprieve .BO

(Reporting by Chris Thomas in Bengaluru)

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** Shares of Muthoot Finance MUTT.NS tank 10%, IIFL Finance IIFL.NS slide 7% and Manappuram Finance MNFL.NS dip 3%
** In its monetary policy review on Wednesday, India's central bank said it will to issue comprehensive regulations on prudential norms and conduct-related aspects for gold loan providers
** Reuters reported last month that the Reserve Bank of India plans to ask lenders to follow stricter underwriting processes for gold loans

** This is MUTT's worst one-day pct drop since August 2022, IIFL's worst pct fall since March 2024

** MUTT down 3.2% YTD, IIFL down 24.4% YTD.

** YTD, MNFL up 18%

(Reporting by Sethuraman NR in Bengaluru)

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March 25 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• FITCH RATINGS: BAIN CAPITAL'S PLAN TO ACQUIRE STAKE IN MANAPPURAM FINANCE COULD HELP TO ALLAY MANAGEMENT SUCCESSION UNCERTAINTY IN MANAPPURAM FINANCE

• FITCH RATINGS: NEW EQUITY RAISED SHOULD SUPPORT MANAPPURAM FINANCE'S CAPITAL BUFFER, GROWTH PROSPECTS

• FITCH: INTENDED REFRESH OF MANAPPURAM FINANCE'S EXEC TEAM COULD RAISE CONTINUITY RISKS IF NOT SMOOTHLY MANAGED

Source text: [ID:]

Further company coverage: MNFL.NS

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March 21 (Reuters) - Shares of Manappuram Finance MNFL.NS jumped about 6% in early trade on Friday, following the announcement that Bain Capital will acquire an 18% stake in the company at a premium to the stock's last closing price, prompting analysts to raise their price targets on the company.

Manappuram shares gained as much as 5.8% to 230 rupees as of 9:23 a.m. IST, hitting their highest in over eight months. They were last up 1.3%.

Bain Capital will subscribe to Manappuram's shares and warrants at 236 rupees apiece, implying an almost 9% premium over its last trading price of 217.5 rupees, and will jointly control the company with existing promoters after the investment.

(Reporting by Manvi Pant in Bengaluru; Editing by Eileen Soreng)

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March 20 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• MANAPPURAM FINANCE LTD - TO ISSUES SHARES AND WARRANTS WORTH 43.85 BILLION RUPEES

• MANAPPURAM FINANCE LTD - TO ISSUE AND ALLOTMENT SHARES AND WARRANTS TO BC ASIA INVESTMENTS

• MANAPPURAM FINANCE - TO ACQUIRE 99.917% OF MANAPPURAM ASSET FINANCE

Source text: ID:nBSE1LfSrL

Further company coverage: MNFL.NS

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** Shares of Muthoot Finance MUTT.NS rise 2.4% to 2235 rupees, set to snap three-straight days of losses

** Gold loans financier gets the Reserve Bank of India's permission to open 115 new branches

** Avg. analysts' rating on the stock is "Buy" vs "Hold" on peer Manappuram Finance MNFL.NS; median PT on MUTT is 2490.5 rupees - LSEG data

** Stock up 4% so far this year, after a 45% jump last year

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Manappuram Finance MNFL.NS climb as much as 3.8% to 209 rupees, last up 2.7%

** Bain Capital is nearing deal worth $1 bln with top shareholders of MNFL, The Economic Times newspaper reported

** Deal to acquire controlling stake in the gold loan financier, report added, citing sources

** Manappuram and Bain did not immediately respond to Reuters requests for comments

** Over 17.6 mln shares traded vs 30-day avg of 12.7 mln shares

** MNFL rated "hold" on avg, peer Muthoot Finance MUTT.NS rated "buy" - LSEG data

** Year-to-date, MNFL, MUTT up ~7%, ~4%, respectively

(Reporting by Manvi Pant in Bengaluru)

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** Shares of gold loan provider Manappuram Finance MNFL.NNS fall 11% this week, set for worst week since mid-Oct

** On the day, co down 5.1% at 184.1 rupees after third-quarter profit miss, hurt by stress in its microfinance business

** Of 13 analysts covering the stock, at least four downgraded MNFL after results; however, avg rating is "buy" - LSEG data

** YTD stock has lost 2.4%

(Reporting by Hritam Mukherjee in Bengaluru)

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BENGALURU, Feb 13 (Reuters) - Indian gold loan financier Manappuram Finance MNFL.NS reported a third-quarter profit that missed analysts' estimates on Thursday, hurt by the stress in its microfinance business, including a quarter-long ban from issuing loans.

The company's consolidated net profit halved to 2.82 billion rupees ($32.5 million) in the quarter, missing analysts' average estimate of 4.59 billion rupees, as per data compiled by LSEG.

Indian lenders have seen rising default rates in microfinance loans, or collateral-free small loans to borrowers, following a period of aggressive lending in the segment.

Bad loans and provisions in Manappuram's microfinance unit surged four-fold to 4.73 billion rupees, accounting for a large chunk of total company-wide provisions of 5.55 billion rupees in the October to December quarter.

At the start of the period, the Reserve Bank of India (RBI) had barred the unit from sanctioning and disbursing loans due to "usurious" pricing and for charging a significant mark-up over funding costs. The RBI lifted the ban last month.

As a result, revenue in its microfinance business dropped around 5% to 6.65 billion rupees in the quarter.

However, revenue from Manappuram's gold loan portfolio, which contributes 75% of total revenue, rose 17%, aided by gold prices jumping to record highs.

Rising gold prices increase how much a customer can borrow against bullion, benefiting gold financiers in terms of loans issued.

The company's net interest income rose 5%.

While Manappuram missed analysts estimates, its larger rival Muthoot Finance MUTT.NS rode the increase in gold prices to report a bigger-than-expected quarterly profit on Wednesday.

($1 = 86.8680 Indian rupees)

(Reporting by Nishit Navin; Editing by Savio D'Souza)

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Adds RBI lifting restrictions on Kotak Mahindra Bank

Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.

High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.

The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.

The following is a list of companies whose restrictions have been removed by the RBI.

KOTAK MAHINDRA BANK

The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.

RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.

ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV

The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.

The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.

The same restrictions on Arohan were lifted last week, and from Navi in December.

EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE

The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.

The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.

JM FINANCIAL

A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.

The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.

IIFL FINANCE

In September, the RBI permitted IIFL Finance to resume issuance of gold loans.

The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.

BAJAJ FINANCE

The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.

The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.

(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)

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** Manappuram Finance MNFL.NS jumps 4.4% to 187.90 to 188.80 rupees

** India's cenbank RBI lifts lending curbs on non-bank lender's unit Asirvad Micro Finance

** Says co's remedial measures, particularly regarding fairness in loan pricing, is to RBI's satisfaction

** In October, RBI banned Asirvad from issuing new loans due to "usurious" pricing, high mark-ups

** Jefferies says removal of ban largely expected and reflected in recent rebound in stock price to pre-ban levels

** Adds while lending ban removal a positive, stress in microfinance sector will result in subdued loan disbursement for Asirvad

** Maintains "hold", raises PT to 190 rupees from 167 rupees

** Stock rated "buy" on avg - LSEG

** MNFL up 1.5% since RBI action after market hours on Wednesday

(Reporting by Nandan Mandayam in Bengaluru)

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BENGALURU, Jan 8 (Reuters) - India's central bank said on Wednesday it has removed restrictions imposed on non-banking financial companies Asirvad Micro Finance and DMI Finance against any fresh loan sanctions and disbursals with immediate effect.

(Reporting by Nishit Navin; Editing by Krishna Chandra Eluri)

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Dec 20 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• RBI: IMPOSES MONETARY PENALTY OF 2 MILLION RUPEES ON MANAPPURAM FINANCE

Source text: [ID:]

Further company coverage: MNFL.NS

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BENGALURU, Nov 14 (Reuters) - Indian gold loan provider Muthoot Finance MUTT.NS reported a 26% rise in its second-quarter profit on Thursday, boosted by strong loan demand, and raised its gold loan growth forecast for the financial year 2025.

The company's standalone quarterly profit rose to 12.51 billion rupees from 9.91 billion rupees a year earlier.

This was largely in line with analysts' average estimate of 12.58 billion rupees, according to data compiled by LSEG.

Domestic gold MAUc1 prices surged to record highs during the quarter, driving loan growth for lenders such as Muthoot Finance and Manappuram Finance MNFL.NS.

Rising prices of bullion benefit gold financiers as they increase the value of collateral gold and as more customers seek loans against higher-valued assets.

The company also revised its annual forecast for gold loan growth to 25% from a prior view of 15%, Managing Director George Alexander Muthoot said in a statement.

Muthoot's standalone loan assets under management jumped about 31% to 901.97 billion rupees as of the quarter ended Sept. 30, helped by a 28% jump in its core gold loan portfolio.

The company's interest income rose about 35% to 40.69 billion rupees.

Earlier this month, Manappuram Finance reported an unexpected growth in second-quarter profit as strong performance in its mainstay gold loan segment offset higher provisions.

Shares of Muthoot Finance ended 0.3% higher ahead of the results on Thursday.

(Reporting by Nishit Navin and Dimpal Gulwani; Editing by Shreya Biswas)

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Nov 5 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• Q2 CONSOL NET PROFIT 5.71 BILLION RUPEES; IBES EST. 5.31 BILLION RUPEES

• Q2 CONSOL INTEREST INCOME 25.41 BILLION RUPEES

• DIVIDEND OF 1 RUPEE PER SHARE

Source text: [ID:]

Further company coverage: MNFL.NS

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Oct 18 (Reuters) - Manappuram Finance's MNFL.NS shares slumped 16% on Friday, their biggest decline since March 2020, after the Indian central bank's lending restrictions on the company's unit triggered rating downgrades due to concerns over a potential hit to earnings.

The non-bank lender's shares fell as much as 18% to 145.42 rupees, their lowest in 10 months, before paring some losses.

The Reserve Bank of India (RBI) on Thursday barred four non-bank finance companies (NBFCs), including Manappuram's unit Asirvad Micro Finance, from sanctioning and disbursing loans due to "usurious" pricing and for charging a significant mark-up over their funding costs.

Asirvad contributes about 27% to Manappuram's consolidated assets under management (AUM), according to two brokerage estimates.

Brokerages including Morgan Stanley, Jefferies and Motilal Oswal downgraded their ratings on the stock and cut target prices after the RBI's move.

Manappuram, could see a rise in funding costs and may have to support Asirvad with funding, Morgan Stanley said in a note, downgrading the stock to "equal-weight" from "over-weight". It reduced its target price by 35% to 170 rupees.

"It (Manappuram) could also face loan growth moderation, tighter credit practices, and higher provisioning to give comfort to all stakeholders," Morgan Stanley analysts said.

Jefferies downgraded the stock to "hold" from "buy" and cut its target price by 38% to 167 rupees, saying a potential rise in defaults at Asirvad could hurt Manappuram's profit.

Asirvad is expected to see a 25% decline in AUM in 2025, Motilal Oswal said, downgrading the stock to "neutral" from "buy".

Manappuram shares are down 12% so far this year, compared to a 32% rise in rival Muthoot Finance MUTT.NS.

(Reporting by Dimpal Gulwani and Siddhi Nayak; Editing by Sonia Cheema)

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Corrects to non-bank lenders, from micro lenders, in headline and paragraph 1

By Swati Bhat and Siddhi Nayak

MUMBAI, Oct 17 (Reuters) - India's central bank barred four non-bank finance companies (NBFCs) from sanctioning and disbursing loans due to "usurious" pricing and breaching regulatory norms, it said in a release on Thursday.

The ban on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and Navi Finserv is effective from the close of business on Oct. 21, the Reserve Bank of India (RBI) said.

The companies' pricing policies in terms of their weighted average lending rate (WALR) and the interest spread charged over their cost of funds were found to be excessive and did not adhere to regulations, the RBI said.

"In addition to usurious pricing, these NBFCs were variously found to be in non-adherence with the regulatory guidelines on assessment of household income and consideration of existing/ proposed monthly repayment obligations in respect of their microfinance loans," the RBI said.

It also noted deviations in terms of income recognition & asset classification (IR&AC) norms, which led to evergreening of loans, as well as how the firms managed their gold loan portfolio, handled mandated disclosures on interest rates and fees and outsourced core financial services, among other things.

The companies continued with these practices despite the RBI asking them, over the last few months, to use their regulatory freedom responsibly and ensure fair, reasonable and transparent pricing, especially for small-value loans, the regulator said.

None of the four NBFCs immediately replied to an email seeking comment.

The ban does not preclude the companies from servicing existing customers and carrying out collection and recovery processes as per rules, the RBI said.

The regulator said it would review its decision once the companies confirmed they had taken remedial action.

DMI Finance's total loan book was 118.43 billion rupees as of end March, while that of Asirwad, a unit of Manappuram Finance MNFL.NS, was at 102.95 billion rupees.

In August, DMI Finance had said it plans to raise funds from Japan's Mitsubishi UFJ Financial Group 8306.T at a valuation of about $3 billion to "ramp up" its lending.

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)

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Oct 1 (Reuters) - Shares of Indian non-bank gold lenders Manappuram Finance MNFL.NS and Muthoot Finance MUTT.NS dropped 2% each early on Tuesday, a day after the central bank said it found "several irregular practices" in the industry.

The Reserve Bank of India warned that non-compliance with regulatory guidelines could attract, among other things, supervisory action by the central bank.

Those comments are "a sentimental negative for the gold lenders", brokerage Motilal Oswal said in a note.

(Reporting by Nandan Mandayam in Bengaluru and Siddhi Nayak in Mumbai; Editing by Savio D'Souza)

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Adds analyst commentary in paragraph 5,6,10 and 11, financials in paragraph 7

By Dimpal Gulwani and Siddhi Nayak

BENGALURU/MUMBAI, Sept 20 (Reuters) - Shares of India's IIFL Finance IIFL.NS surged 13% on Friday, after the country's central bank revoked an earlier ban on the non-bank lender's gold loan business.

Shares rose as much as 13% to 560.60 rupees, their highest since late February, before paring some gains to trade 8.5% higher, as of 11:34 am IST. It had fallen about 14% as of last close, after the Reserve Bank of India's ban in March.

The RBI had ordered IIFL Finance to stop disbursing gold loans with immediate effect, citing "material supervisory concerns".

Following the curbs, the company started a special audit in April as directed by the RBI.

"We expect IIFL to now make a strong comeback in the gold lending business to regain its market share in the segment," analysts at brokerage Motilal Oswal said in a note on Thursday.

"We believe that IIFL could even take pricing actions and compete aggressively (if needed) to accelerate its gold loan growth."

IIFL reported a net loss of 226.6 million rupees ($2.71 million) for the quarter ended June 30, compared with a profit of 1.51 billion rupees a year earlier, hurt by the RBI's embargo.

Gold loans accounted for 21% of the company's total loan assets, as of June 30, down from 30% as of March-end.

On Friday, peers Muthoot Finance dropped 3% and Manappuram Finance fell as much as about 4%, before paring losses to trade flat.

Investors are assured that IIFL Finance has taken corrective measures and is working towards strengthening compliance, said Kranthi Bathini, director of equity strategy at WealthMills Securities.

"Now that the restrictions are lifted, the company will take about 6-8 months to bounce back and shred the lag effect coupled with rise in gold prices which could help the stock."

($1 = 83.5340 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru and Siddhi Nayak in Mumbai; Editing by Rashmi Aich)

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** IIFL Finance IIFL.NS slides 6.2% to 496 rupees

** Non-bank finance co faces downgrade risks as a regulatory ban on its gold loan business remains unresolved, Bloomberg News reports

** Report adds that a potential downgrade may pressure the firm's borrowing channels and could cut more than 9,000 jobs if ban persists

** In March, RBI ordered co to stop disbursing gold loans over "material supervisory concerns" in its gold loan portfolio

** Stock has declined ~14% since March 4, when the RBI action came in

** YTD, IIFL is down ~15% vs Muthoot Finance MUTT.NS and Manappuram Finance MNFL.NS gaining ~37% and ~19%, respectively

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Indian jewellers jump 4-20%; gold financers gain as much as 4%

** Gold at record high on US rate cut optimism

** Tribhovandas Bhimji Zaveri TBZL.NS surges 20% and PC Jeweller PCJE.NS jumps 5%, both hit exchange-allowed upper limit

** Kalyan Jewellers KALN.NS and Senco Gold SENC.NS climb 6.3% and 4.1%, respectively, hit record highs

** Gold financiers Muthoot Finance MUTT.NS and Manappuram Finance MNFL.NS advance 2.6% and ~4% respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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MUMBAI, Aug 16 (Reuters) - India's Manappuram Finance MNFL.NS has accepted bids worth 3.45 billion rupees ($41.11 million) for bonds maturing in two years, three bankers said on Friday.

It had invited coupon and commitment bids for the issue earlier in the day.

Here is the list of deals reported so far on Aug. 16:

*Size includes base plus greenshoe for some issues

($1 = 83.9210 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)

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MUMBAI, Aug 13 (Reuters) - India's Manappuram Finance MNFL.NS plans to raise 6 billion rupees ($71.48 million) including a greenshoe option of 2.50 billion rupees by selling bonds maturing in two years, three merchant bankers said on Tuesday.

The company will pay a coupon of 9.10% on this issue, and has invited bids from investors and bankers on Friday, they said.

Here is the list of deals reported so far on Aug. 13:

*Size includes base plus greenshoe for some issues

($1 = 83.9390 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sherry Jacob-Phillips)

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Aug 5 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• TO CONSIDER ISSUE OF NON–CONVERTIBLE DEBENTURES

Further company coverage: MNFL.NS

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July 26 (Reuters) - Manappuram Finance Ltd MNFL.NS:

• POTENTIAL FRAUD PERPETUATED BY AN EMPLOYEE OF CO'S UNIT

• ESTIMATED QUANTUM OF POTENTIAL FRAUD IS 200 MILLION RUPEES

Source text for Eikon: ID:nBSE6Q7ffJ

Further company coverage: MNFL.NS

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