Sub: Intimation of Acquisition under Regulation 30 of SEBI (LODR) Regulations, 2015

Please be informed that the Board of Directors at their meeting dated 15th May 2019 accorded their approval for acquiring 100% equity shares of Manappuram Asset Finance Limited, Material Details regarding the Equity/Proposed Acquisition as per SEBI Circular CIR/CFD/CMD/4/2015 dated Sep 09,2015 are as follows:

A Name of the Target entity, details in brief such as size, turnover etc.
Manappuram Asset Finance limited (MAAFIN) Paid Up Capital Rs 297500000.
Turnover (Total Income) as at March 2019 is Rs. 289,855,904
Turnover (Total Income) as at December 2018 is Rs. 207,436,319
B whether the acquisition would fall within related party transaction(s)and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at 'arm's length' Yes, Manappuram Asset Finance limited is a promoter Group Company and the said acquisition would fall within the related Party Transaction Definition and is being done at Arm's length.
C industry to which the entity being acquired belongs NBFC
D objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity); Business synergy and expansion of business
E brief details of any governmental or regulatory approvals required for the acquisition;
Require prior approval of RBI
F indicative time period for completion of the acquisition Subject to the approval of regulatory authorities.
G nature of consideration
-whether cash consideration or share swap and details of the same;
Cash consideration
H cost of acquisition or the price at which the shares are acquired; Rs.11.5/share
Aggregating rs.34,21,25,000/-
I percentage of shareholding / control acquired and / or number of shares
acquired 100% shareholding consisting of 29750000 equity shares of Rs 10 each.
J Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) Manappuram Asset finance Limited(MAAFIN)is a public limited company incorporated on 24-06-1987 with registered office at Door No:111/105 Opposite Natika FIRKA Co-operative Rural Bank, Near Chandapadi Junction Valapad P.O, Thrissur, Kerala - Pin:680567. MAAFIN is operating Loan company and is a group company of Manappuram Finance Ltd. It is promoted by Mr. V P Nandakumar, MD and CEO of Manappuram Finance Ltd. It had Assets under Management(AUM) of Rs 148 crores as on March 31,2019, increased from Rs.116.06 crores as on March 31,2018. The entity has presence only in India.
Turnover of MAAFIN for last three financial years are: -
Turnover as at 31st March 2019 is Rs. 289,855,904/-.
Turnover as at 31st March 2018 is Rs 233,060,911/-.
Turnover as at 31st March 2017 is Rs. 275,281,978/-.