Manappuram Finance's stock plummeted 7.5  on the National Stock Exchange  NSE  and 4.47  on the Bombay Stock Exchange  BSE , hitting a daily low of Rs 163.4.The IPO delay represents a setback for Manappuram Finance, which had increased its stake in Asirvad Micro Finance in June 2022, securing a majority holding as part of its broader diversification strategy.
Manappuram Finance's stock fell 7.5% on NSE and 4.47% on BSE due to the delay in its IPO, which is a setback for its diversification strategy involving a majority stake in Asirvad Micro Finance.