CHENNAI: Manappuram Finance has announced it has received final approval from the Reserve Bank of India (RBI) for the proposed acquisition of joint control and shareholding of up to 41.66% of the Company’s paid-up equity capital / convertible instruments by affiliates of Bain Capital, namely BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
The RBI approval, communicated on February 13, 2026, is in connection with the definitive agreements executed on March 20, 2025, under which Bain Capital committed to invest approximately Rs 4,385 crore to acquire an 18.0 per cent stake on a fully diluted basis via preferential allotment of equity shares and warrants at a price of Rs 236 per share.
This also triggers a mandatory open offer for the purchase of an additional 26.0 per cent stake from public shareholders at Rs 236 per share, in accordance with the Sebi Regulations, 2011.
Based on the open offer subscription, Bain Capital’s stake post-investment will vary between 18.0 per cent and 41.7 per cent on a fully diluted basis.