Manba Finance Ltd, Mumbai-based vehicle and retail financing NBFC, has entered the South Indian market through a strategic partnership with Sreesastha (Nammaloan), marking a significant step in the Mumbai-based non-banking finance company’s national expansion strategy.
The partnership will initially focus on Karnataka, followed by an entry into Tamil Nadu during the current financial year, with phased expansion planned across other South Indian States thereafter.
Expansion plans
As part of the expansion, the partners have identified more than 100 potential locations across the region, which will be activated progressively based on market readiness and operational priorities.
The collaboration will offer a range of financing products including new and used two-wheeler loans, three-wheeler loans, used car loans, personal loans, micro loans against property and small business loans.
Management comment
“South India is one of the most dynamic vehicle markets in the country, and entering it the right way matters more to us than entering it quickly,” said Manba Finance Managing Director Manish Shah.
“We are starting in Karnataka. We will expand State by State. Our focus is on building a durable, well-underwritten book in the South, not a quick one,” said Manba Finance Chief Business Officer and Executive Director Monil Shah.
Bridging the gap
“This strategic tie-up aligns perfectly with our vision of bridging the gap between quality financial products and underserved customers in South India. Together, we aim to empower individuals and businesses with reliable credit solutions that drive growth and financial inclusion,” said Sreesastha Ins-Corp Advisory Director V. Gopalakrishnan.
Business profile
Manba Finance currently operates across six States and 130 locations, serving a network of about 1,500 dealer points with a workforce of 1,800 employees.
As of March 2026, the company’s assets under management (AUM) exceeded ₹1,700 crore and it had served more than one million customers.