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Manappuram names Buvanesh Tharashankar group chief financial officer
KERALA: Manappuram Group has pulled off a seasoned hire, appointing Buvanesh Tharashankar as group chief financial officer, a move that tightens the financial muscle behind its Manappuram 2.0 growth push.
Tharashankar will steer financial strategy across all group companies, working with the board and senior leadership to lift capital efficiency, strengthen governance and sharpen long-term value creation. The mandate is clear. Keep growth ambitious but disciplined.
A chartered accountant with more than three decades in banking and financial services, Tharashankar arrives with a reputation for cool-headed balance-sheet management and regulator-ready governance. Most recently, he was cfo at RBL Bank, running the core finance engine, including regulatory reporting, statutory audits, taxation, procurement and payables, during a demanding phase for the sector.
Before that came a stint as cfo at Jana Small Finance Bank, where he led capital planning, investor relations and regulatory reporting, while overseeing treasury back-office and governance functions. Earlier still, he spent a long stretch at Citibank in India and the Middle East, rising to cluster controller for the India subcontinent and taking on lead cfo roles overseas. His Citi years covered the hard yards. ICAAP, Basel II, SOX 404, balance-sheet optimisation and large re-engineering programmes that cut costs and lifted returns on equity.
Throughout, Tharashankar has been known as a finance leader who partners the business rather than polices it, using data, controls and capital discipline to enable growth without courting risk.
At Manappuram, he will oversee finance end to end, spanning accounting, treasury, taxation, regulatory engagement and investor relations. The brief is to underpin expansion with rigour, keep the group agile in a shifting regulatory climate and ensure capital is worked hard.
V. P. Nandakumar, chairman and managing director of Manappuram Finance, said the appointment strengthens the group’s leadership bench at a pivotal moment.
Tharashankar’s depth in capital management, governance and regulatory engagement, he said, will be vital as Manappuram scales its next phase.
The message from Valapad is unmistakable. Growth is back on the agenda, with the spreadsheets sharpened, the controls tightened and the balance sheet ready to run.
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Bikaji Foods International acquires remaining stake in Petunt Food
Snack maker spends Rs 8 crore to buy the remaining 48.78 per cent stake
MUMBAI: Snack maker Bikaji Foods International said on Friday its board has approved the acquisition of the remaining 48.78 per cent equity stake in Petunt Food Processors Private Limited, turning the firm into a wholly owned subsidiary.
The additional investment, valued at about Rs 8 crore, will consolidate Bikaji’s ownership in Petunt Food. The company earlier held a 51.22 per cent stake in the food processor.
Following the transaction, Bikaji acquired 35,98,998 equity shares with a face value of Rs 10 each, representing the balance 48.78 per cent stake, the company said in a regulatory filing.
Petunt Food Processors has an authorised share capital of Rs 8 crore, comprising 80 lakh equity shares with a face value of Rs 10 each. Its paid-up share capital stands at Rs 7.37 crore, divided into 73,78,098 equity shares.
Bikaji said the acquisition aims to consolidate its shareholding and securing full ownership and operational control of Petunt Food, which plays a key role in the company’s operations in southern India.
Petunt Food Processors manufactures and processes a range of food products, including sweets and namkeen, and undertakes packaging, labelling, grading and distribution of food-related items.
The company reported a turnover of Rs 363 crore in FY2023, while its turnover stood at Rs 52.07 crore in FY2025.
