American Funds (Capital Group) decreased its stake in Manappuram Finance Limited from 6.02% to 5.49% by selling 4,928,630 shares. The shares were valued at approximately ₹167.57 crore, based on a share price of ₹340.00.
A systemically important non-banking finance company that provides gold loans, money exchange services, and other fund-based and fee-based financial solutions to retail customers across India. The company operates as a non-deposit taking NBFC, with gold lending forming its core business alongside complementary financial services. It serves customers seeking secured lending against gold collateral and foreign exchange facilities.
India equity holdings of American Funds, the mutual fund family of Capital Group. Long-only, fundamentally driven strategy.
