KOCHI: Kerala-based gold loan major Manappuram Finance is set for a significant leadership transition, with the company appointing Ashish Singh as its new Managing Director and Chief Executive Officer from January 1, 2027.

The appointment marks a shift towards a more institutionalised management structure at the family-promoted non-banking financial company, with long-serving promoter V.P. Nandakumar stepping away from executive leadership.

Nandakumar, who currently serves as Chairperson and Managing Director, will become Non-Executive Chairperson when Singh takes charge at the beginning of next year.

The leadership overhaul follows private equity firm Bain Capital’s proposed ₹4,385-crore investment in Manappuram Finance. Under the transaction, Bain is set to acquire an 18% stake and become a joint promoter of the company.

Singh’s appointment places a professional executive at the helm of Manappuram as the lender enters a new phase of ownership and governance.

The transition represents a major change for the Kerala-headquartered financial services company, which has grown under Nandakumar’s leadership into one of India’s prominent gold loan-focused NBFCs.