The RBI approval, communicated on February 13, 2026, is in reference to the definitive agreements executed on March 20, 2025, underneath which Bain Capital dedicated to take a position roughly Rs 4,385 crore to amass an 18 per cent stake on a completely diluted foundation by means of preferential allotment of fairness shares and warrants at a value of Rs 236 per share, Manappuram Finance mentioned in an announcement.
The transaction additionally triggers a compulsory open provide for the acquisition of an extra 26 per cent stake from public shareholders at Rs 236 per share, in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Rules, 2011, it mentioned.
With this approval, Bain Capital will probably be categorized as a promoter of the Firm and can collectively management Manappuram Finance together with the prevailing promoters, it mentioned.
The board will probably be reconstituted and can embody nominee administrators of Bain Capital, according to the transaction agreements, it mentioned.
Primarily based on the open provide subscription, Bain Capital’s stake post-investment will differ between 18 per cent and 41.7 per cent on a completely diluted foundation (together with shares to be issued pursuant to train of warrants), it mentioned.
The present promoters will maintain 28.9 per cent post-investment on a completely diluted foundation, it 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 would additionally assist us improve and broaden our department community pan India,” Manappuram Finance MD and CEO V P Nandakumar mentioned.
