Manappuram Finance has announced the resignation of its Chief Executive Officer, Deepak Reddy, who will leave the non-banking financial company at the end of December 2026. The company said the executive has stepped down to pursue personal and professional interests.
According to the company's stock exchange filing, Reddy will continue with Manappuram Finance until December 31, 2026, after which his employment will formally cease. He will remain on garden leave during this period.
Company confirms planned transition
The announcement was made by Manappuram Finance on July 3 through a regulatory filing, which stated that the CEO had tendered his resignation.
The company said Reddy had decided to step down to pursue "other personal and professional interests."
The filing added that:
- Deepak Reddy's last working day will be December 31, 2026
- He will remain on garden leave until his exit
- His employment with the company will formally cease on December 31, 2026
The company did not announce a successor in the filing.
The leadership transition comes as Manappuram Finance, one of India's leading gold loan-focused non-banking financial companies, continues its operations across lending segments.
According to Moneycontrol, the company's shares ended 2% higher at Rs 329.45 on July 3, the day the resignation was disclosed.
The market movement coincided with broader gains in gold prices following weaker-than-expected US jobs data, although the company did not link the share price movement to the CEO's resignation.