Manappuram Finance has received all regulatory approvals from the Reserve Bank of India (RBI) for Bain Capital to acquire joint control of the company and its subsidiaries, marking a key step in its proposed ₹4,385 crore investment.
The approvals cover indirect change in control of subsidiaries, including Asirvad Micro Finance and Manappuram Home Finance, following the acquisition by Bain Capital affiliates. With this, all statutory clearances required for the transaction are now in place.
The company said it will work with Bain Capital to complete the capital infusion by March 31, 2026, while the private equity firm will proceed with an open offer in line with takeover regulations.
Upon completion, Bain Capital is expected to hold 18% to 41.66% stake in the company on a fully diluted basis, while existing promoters will retain around 28.9% stake. Bain Capital will also be classified as a promoter and jointly control the company alongside current promoters.
The boards of Manappuram Finance and its subsidiaries will be reconstituted to include Bain Capital’s nominee directors, in line with the agreement.
Also Read: Manappuram Finance Q3 Results: Profit slips, NII remains flat; dividend declared
The development marks a significant milestone in Manappuram’s plans to strengthen its capital base and support its next phase of growth across lending businesses.
Ahead of the announcement, shares of Manappuram Finance closed at ₹271.35, up 5.65% on the NSE.
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