Bain Capital Invests ₹4,385 Crore in Manappuram Finance, Triggers Open Offer

Bain Capital has invested ₹4,385 crore in Manappuram Finance, acquiring an 18% stake through a preferential allotment of equity and warrants at ₹236 per share, a 30% premium over the six-month average trading price. This transaction triggers a mandatory open offer for an additional 26% stake at the same price. Post-investment, existing promoters will hold a 28.9% stake. Bain Capital will acquire joint control alongside the existing promoters, with the right to appoint key executives and reconstitute the board. The deal aims to enhance operational efficiencies and drive growth in gold loans, vehicle finance, and microfinance.

Source: Business Standard, CNBC TV18, Business Upturn