Manappuram Finance shares in focus: RBI grants approval to Bain Capital for acquiring up to 41.7% stake; details to know

The RBI approval, communicated on February 13, 2026, is in connection with the definitive agreements executed on March 20, 2025, under which Bain Capital committed to invest approximately ₹4,385 crore to acquire an 18% stake on a fully diluted basis through preferential allotment of equity shares and warrants at a price of Rs 236 per share, Manappuram Finance said in a statement.

The transaction also triggers a mandatory open offer for the purchase of an additional 26% stake from public shareholders at ₹236 per share, in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, it said.

With this approval, Bain Capital will be classified as a promoter of the company and will jointly control Manappuram Finance along with the existing promoters, it said.

The board will be reconstituted and will include nominee directors of Bain Capital, in line with the transaction agreements, it said.

Based on the open offer subscription, Bain Capital’s stake post-investment will vary between 18% and 41.7% on a fully diluted basis (including shares to be issued pursuant to exercise of warrants), it said.

The existing promoters will hold 28.9% post-investment on a fully diluted basis, it said.

“With Bain Capital coming on board as a joint controlling shareholder, we are well-positioned to accelerate growth in our core segments, invest further in technology and risk management capabilities, and build a professionally managed, future-ready financial services company. It will also help us enhance and expand our branch network pan-India,” Manappuram Finance MD and CEO V. P. Nandakumar said.

Manappuram Finance Q3 Results

Manappuram Finance, according to news reports, registered a mixed set of numbers for the December quarter on January 29, as profit declined despite steady revenue growth.

However, revenue from operations rose 6.5% year-on-year to ₹1,915.35 crore during the quarter, indicating stable business traction amid margin pressures.

The company’s board also announced an interim dividend of ₹0.50 per equity share (face value ₹2 each). The record date to determine eligible shareholders was set as Friday, February 6, 2026.