Manappuram Finance

(AJ) #496

Hope you find this helpful!

(..pd..) #497

Purchase of 27,65,880 shares by Quinag Acquisition (FPI) Ltd.

(Pratik_Sahu) #498

@parth_dalal: What’s the source?

(us121) #499

it is in BSE Notification based on company communication.

(jirohit) #500

can you share the link of this news " Purchase of 27,65,880 shares by Quinag Acquisition (FPI) Ltd." as can not find the same on BSE

(Pratik_Sahu) #501

Couldn’t find it on BSE. However, it is there on the mannapuram website, Check under corporate announcements

(jirohit) #502

manappuram.pdf (483.6 KB)
this is the disclosure

(manivannan.g) #503

They did purchase at an avg price of Rs94.73 in 2017 as well.

(..pd..) #504

purchase of 14,70,000 (Fourteen Lakhs Seventy
Thousand only) shares by Quainag Acquisitions (FPI) Ltd.

(Raj A A) #505

What you state is besides the purchase of 1.51Cr shares . 1.51 Cr shares were bought around
Rs 94.7 per share.At what price this deal was concluded. Any idea?

(us121) #506

a59a8613-a871-4aea-9fa7-97894c4abcf0.pdf (760.0 KB)
Doc of this transaction attached


I am suprised all these announcements are not reflected on BSE/NSE despite being marked to both these exchanges.

(Raj A A) #508

Thnak you for the info. 1.51 Cr shares was dated back to Aug 2017 @Rs 94 .73. Latest additon of the transaction stated by you was @ Rs 105 to 107. Quinag acquisition is prerunner of interesting times ahead in Manappuram.

(..pd..) #509

Indiabulls Asset Management exited.
UTI Asset Management entered.

(maheshkumar) #510

(manivannan.g) #511

Came across a news item about Manappuram Gold in few Tamil dailies and weeklies. The news states that, one of the branch manager named Mr. Kalathi Perumal of Jayankondam Branch, Ariyalur District, allegedly involved in a scam worth Rs.47.70Lakhs and the said person is arrested and FIR filed as well. In the first level of investigation, it’s found that 150 customers were affected.

News links in Tamil:

Brief on the scam:
The branch manager mostly targets the uneducated people. Once the customers submit their documents for certain amount of loan, the manager call them personally and ask them to sign further more papers. Those papers will be having statement that, those customers wanted to increase their loan amount.

Example: If one customer need a loan of Rs.2 Lakh, he completes the paper work and initiated the process and goes to home. Now, the manager call that customer after 10 days and trick them to sign further papers. Which is for increasing it from Rs.2Lakh to Rs.2.5Lakh and attach that “loan increase request” to their account. Now he goes on and process the loan, pass the 2Lakh to customer and pocket the 50k to himself.

This scam came into light in the year end audit.

I’ve sent an email to [email protected], for more details on this news and awaiting their response.