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Manappuram Finance shed over 7% as SEBI put arm Asirvad Microfinance IPO in abeyance

Shares of Manappuram Finance shed over 7 percent on Wednesday after market regulator SEBI put the IPO of its arm Asirvad Microfinance in abeyance, according to media reports.

The stock fell as much as 7.4 percent to ₹163.40 in intra-day deals today. It is now over 10 percent away from its 52-week high of ₹182.10, hit on January 9, 2024. Meanwhile, it has advanced over 61 percent from its 52-week low of ₹101.15, hit on February 27, 2023.

In the last 1 year, the stock has advanced almost 46 percent and lost over 3 percent in January so far.

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