Manappuram Finance, a outstanding gold mortgage financier, introduced on Saturday that it has secured closing approval from the Reserve Financial institution of India (RBI) for the acquisition of as much as 41.66% of its paid-up fairness capital and convertible devices by associates of Bain Capital — BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
The RBI granted its approval on February 13, 2026, in relation to definitive agreements executed on March 20, 2025. Beneath these agreements, Bain Capital dedicated to investing roughly Rs 4,385 crore for an 18% stake on a completely diluted foundation, by means of a preferential allotment of fairness shares and warrants at a value of Rs 236 per share.
The transaction additionally triggers a compulsory open provide for the acquisition of a further 26% stake from public shareholders, on the similar value of Rs 236 per share, as per SEBI’s (Substantial Acquisition of Shares and Takeovers) Rules, 2011.
Following this acquisition, Bain Capital might be labeled as a promoter of the corporate and can collectively management Manappuram Finance alongside the present promoters. The board might be reconstituted to incorporate nominee administrators from Bain Capital, in accordance with the transaction agreements.
Bain Capital’s stake post-investment will vary between 18% and 41.7% on a completely diluted foundation, which incorporates shares to be issued upon the train of warrants. In the meantime, the prevailing promoters are anticipated to carry 28.9% on a completely diluted foundation.
Commenting on the event, V P Nandakumar, MD and CEO of Manappuram Finance, mentioned, “With Bain Capital approaching board as a joint controlling shareholder, we’re well-positioned to speed up progress in our core segments, make investments additional in expertise and threat administration capabilities, and construct a professionally managed, future-ready monetary companies firm. It can additionally assist us improve and increase our department community pan India.”
(With inputs from PTI)
