Crisil Ratings confirms no deviations in utilization of ₹4,384.94 crore preferential issue proceeds for Manappuram Finance.
Funds were used for onward lending (₹1,045.97 crore), subsidiary investment, and general corporate purposes including debt repayment.
A board-approved reallocation shifted ₹116.06 crore from subsidiary balance sheet strengthening to onward lending.
Unutilized proceeds of ₹2,938.97 crore are temporarily deployed in fixed deposits and current accounts.