MANAPPURAM FINANCE Share price

Manappuram General Finance and Leasing (MAGFlL) wasincorporated on 15th July 1992 and the Certificate ofCommencement of Business was obtained on 31st July 1992.MAGFlL is a Hire Purchase Finance Company having obtainedthe status from RBI vide their letter No. DFC(BG)No.4024 /BG(K)HP(M)37 dated 23rd February 1995. The company wasregistered with RBI vide their registrationNo.4068/09.01.04/ 93-94 dated 9th May 1994. It wasfounded by Late Sri V. C. Padmanbhan. The company ismanaged by a Board of Directors consisting of professionalsfrom various fields. The company has been chaired by Mr.K.P.G. Menon retired chairman of the Nedungadi Bank Ltd.and Mr. V.P. Nandakumar who has several years ofexperience in the financial sector is the ManagingDirector of MAGFIL.In the short span of two years since its incorporationMAGFIL''s Hire Purchase and Lease financing has crossed Rs.3 crores and Public deposits are in excess of Rs. 2 crores.The company is presently offering fund based financialservices which include Hire purchase and leasing. The stockon hire as on 31.03.94 is Rs. 187.99 lacs. The companystarted leasing activities only recently and the net blockof leased assets as on 31.3.94 was Rs. 31.28 lacs. TheDeposits mobilised by MAGFIL till 31.03.94 was Rs. 92.35lakhs which has increased to Rs. 253.83 lakhs by the endof November ''94.The company now plans to expand its business and alsoincrease the share of funds allocation in Leasing whichhitherto was done on a low scale.