Bain Capital offers INR 236 per share for 26% stake in Manappuram Finance
This story was originally published at 15:10 IST on 25 March 2026
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--Bain Capital open offer for Manappuram Fin stake to start from Apr 6, 2026
--Bain Capital's Manappuram Finance open offer price set at INR 236/shr
MUMBAI – Bain Capital has announced an open offer to acquire a 26% stake in Manappuram Finance Ltd. at INR 236 per share, the investment banker to the offer Kotak Mahindra Capital Co. said Wednesday. The open offer will start on Apr. 6 and will end on Apr. 20, the investment banker said in an exchange filing. As part of the offer, Bain Capital will acquire around 244 million shares of Manappuram Finance.
Last week, the Reserve Bank of India allowed the US-based private equity firm, through its affiliates BC Asia Investments XXV Ltd. and BC Asia Investments XIV Ltd., to acquire joint control of Manappuram Fiannce Ltd. and its subsidiaries along with the existing promoters. The central bank also approved the indirect change in management of Manappuram Finance's subsidiaries Asirvad Micro Finance Ltd. and Manappuram Home Finance Ltd. after the acquisition of Manappuram Finance shares by Bain Capital's affiliates.
Manappuram Finance and its subsidiaries have received approvals for Bain Capital's INR 43.85 billion investment in the non-banking financial company for a 18% stake.
Bain Capital will become a promoter of Manappuram Finance after the open offer is completed. For the December quarter, Manappuram Finance had reported a consolidated net profit of INR 2.41 billion on revenues of INR 23.53 billion. The offer price is at a discount to the share price of INR 263.10 of Manappuram Finance on the National Stock Exchange at 1506 IST. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Suryash Kumar
Edited by Ashish Shirke
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