This marks the ultimate set of approvals for the Manappuram-Bain Capital deal amounting to Rs 4,385 crore.
“Having now acquired all requisite statutory approvals, the corporate and Bain Capital will purpose to finish the capital infusion within the Firm by March 31, 2026,” Manappuram stated.
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The ultimate approval granted by the regulator is nevertheless topic to a few circumstances. One in all these is that Bain Capital must submit an motion plan to scale back its majority stake in Tyger Capital.
“The aforesaid remaining approval granted by the RBI is topic to circumstances specified by the RBI in its approval for the corporate as disclosed on dated February 14, 2026,” Manappuram stated Wednesday in a inventory alternate discover.
Earlier on February 14, whereas granting its approval to the deal, RBI stated that the corporate is required to advise the traders to furnish an motion plan to make sure that there is not going to be a couple of non-banking monetary firm of the identical class / housing finance firm inside their group with majority shareholding and management.Upon completion of the funding and primarily based on the open provide subscription, Bain Capital will maintain between 18% and 41.66% shareholding within the firm on a completely diluted foundation.
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After the completion of the transaction and the open provide, Bain Capital might be labeled as a promoter of the Manappuram and can collectively management the corporate together with the present promoters.
The respective boards of Manappuram and its subsidiaries might be reconstituted and can embody Bain Capital’s nominee administrators, consistent with the definitive agreements.
The worldwide personal funding agency final month acquired RBI’s approval for buying as much as 41.66% in Manappuram and a joint management within the firm. The acquisition is being completed via Bain’s associates BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
Manappuram chairman VP Nandakumar alongside together with his members of the family held 35.25% within the firm as promoters on the finish of december final yr and they might retain 28.9% after the completion of the deal.
