Manappuram Finance Ltd.

Baring India Private Equity has picked up about 5 crore shares constituting 5.94% stake in one of the largest gold loan company Manappuram Finance for an estimated Rs 136 crore. The private equity firm bought the shares from the open market.

Manappuram Finance is one of the largest gold loan companies in India operating from Valapad, Kerala. It reported a jump of 83.65% in its net profit at Rs 186.96 crore for the quarter ended March 31, 2012 as compared to Rs 101.80 crore for the same quarter a year ago.