Reddy assumed responsibilities on August 1, and will report to VP Nandakumar, who had been serving as the managing director and CEO but will now continue solely as the MD.
Reddy will mainly be responsible for steering the company and its subsidiaries through the next phase of growth and innovation, according to The Hindu BusinessLine.
He will look after the company’s core businesses, including gold loans, vehicle finance, microfinance, MSME loans, housing finance, and digital lending as well as organisational culture, leadership depth, governance, and customer-centricity.
Reddy, who holds a bachelor’s degree in commerce and a PGDM from TAPMI, Manipal, was associated with Bajaj Finserv and American Express before joining Manappuram.
He worked at Bajaj Finserv for close to two decades, including serving as the company’s head of human resources.
During his nine-year stint at American Express, he headed the personal and small business loans business before becoming the director of Platinum Credit Cards.
Shares of Manappuram Finance ended in red at ₹247.90 on the BSE today (August 1), down by ₹5.15 or 2.04%.
In March 2025, the company had announced a ₹4,385-crore investment deal with Bain Capital Asia, under which the private equity firm will acquire an 18% stake through a preferential allotment of equity shares and warrants. This would make Bain Capital a joint promoter alongside existing promoters VP Nandakumar and Sushama Nandakumar.
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