According to a regulatory filing reported by CNBC TV18, Manappuram Finance Ltd, the second-largest pure-play gold loan non-banking financial company, announced that CEO and Key Managerial Personnel Deepak Reddy has resigned from his position. Reddy tendered his resignation via email on July 3, 2026, stating that he is stepping down to pursue other personal and professional interests. The company confirmed that Reddy shall be relieved from the services of the Company with effect from the close of business hours on December 31, 2026. As per the latest regulatory filing with the National Stock Exchange of India (NSE), the company has included necessary disclosures as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026.
As reported by CNBC TV18, Reddy will continue in his role and will be relieved from service with effect from the close of business hours on December 31, 2026. During this period, he will also be on garden leave, ensuring a smooth transition process for the company. The latest regulatory filing confirms that Reddy will remain on garden leave until his cessation date at the end of December. The company has confirmed that the date of cessation of his employment with the Company will be December 31, 2026. The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the resignation letter enclosed as part of the regulatory filing.
According to the exchange filing reported by CNBC TV18, this resignation follows Reddy's earlier announcement in February 2026 that he would proceed on medical leave. The company had stated that Reddy had sought leave starting February 25, 2026, to travel overseas for medical treatment, with the leave period expected to last between 90 and 120 days depending on the progress of the treatment.
As reported by CNBC TV18, shares of Manappuram Finance Ltd ended at ₹328.50, up by ₹6.05, or 1.88% on the BSE following the announcement. However, the latest trading session showed even stronger performance with shares closing 2% higher at ₹329.45 on July 3. The positive market reaction suggests investor confidence in the company's ability to manage this leadership transition smoothly. The company has not disclosed any immediate plans for appointing a successor to Reddy. Historical stock performance shows the stock has gained +89.60% over one year and +20.91% over six months, indicating strong underlying business fundamentals despite the leadership change.
