The RBI approval, communicated on February 13, 2026, is in reference to the definitive agreements executed on March 20, 2025, below which Bain Capital dedicated to speculate roughly Rs 4,385 crore to accumulate an 18 per cent stake on a totally diluted foundation by means of preferential allotment of fairness shares and warrants at a worth of Rs 236 per share, Manappuram Finance mentioned in a press release.
The transaction additionally triggers a compulsory open supply for the acquisition of a further 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 can be labeled as a promoter of the Firm and can collectively management Manappuram Finance together with the prevailing promoters, it mentioned.
The board can be reconstituted and can embrace nominee administrators of Bain Capital, consistent with the transaction agreements, it mentioned.
Based mostly on the open supply subscription, Bain Capital’s stake post-investment will fluctuate between 18 per cent and 41.7 per cent on a totally 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 totally 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 danger administration capabilities, and construct a professionally managed, future-ready monetary providers firm. It should additionally assist us improve and develop our department community pan India,” Manappuram Finance MD and CEO V P Nandakumar mentioned.
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