Manappuram Finance secures RBI nod for Bain Capital’s stake acquisition of as much as 41.66%

Manappuram Finance, a distinguished 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. Underneath these agreements, Bain Capital dedicated to investing roughly Rs 4,385 crore for an 18% stake on a completely diluted foundation, by way of a preferential allotment of fairness shares and warrants at a worth of Rs 236 per share.

The transaction additionally triggers a compulsory open supply for the acquisition of a further 26% stake from public shareholders, on the identical worth of Rs 236 per share, as per SEBI’s (Substantial Acquisition of Shares and Takeovers) Rules, 2011.

Following this acquisition, Bain Capital will probably be categorized as a promoter of the corporate and can collectively management Manappuram Finance alongside the present promoters. The board will probably 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 present 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, stated, “With Bain Capital approaching board as a joint controlling shareholder, we’re well-positioned to speed up development in our core segments, make investments additional in expertise and danger administration capabilities, and construct a professionally managed, future-ready monetary providers firm. It’s going to additionally assist us improve and broaden our department community pan India.”

(With inputs from PTI)