Manappuram Finance, on Saturday, said that the company has received Reserve Bank of India (RBI) approval for the proposed acquisition of up to 41.66% of the company’s paid-up equity capital or convertible instruments by Bain Capital affiliates — BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.
Manappuram Finance said in a statement that the RBI approval, received on February 13, 2026, relates to the definitive agreements signed on March 20, 2025, under which Bain Capital had committed to invest about ₹4,385 crore to acquire an 18% stake on a fully diluted basis through a preferential allotment of equity shares and warrants at ₹236 per share.
The deal also triggers a mandatory open offer to acquire an additional 26% stake from public shareholders at ₹236 per share, in line with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the company added.
Following the approval, Bain Capital will be designated as a promoter of the company and will exercise joint control over Manappuram Finance along with the existing promoters.
The company further stated that the board will be reconstituted to include Bain Capital’s nominee directors under the transaction agreements.
Depending on the level of subscription to the open offer, Bain Capital’s post-investment stake is expected to range between 18% and 41.7% on a fully diluted basis, including shares that may be issued upon warrant conversion.
Meanwhile, the existing promoters are expected to hold 28.9% post-investment on a fully diluted basis.
“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 2025
Manappuram Finance delivered a mixed set of results for the December quarter on January 29, as profitability weakened despite stable topline growth.
The gold loan-focused NBFC reported a consolidated net profit of ₹381 crore for Q3, down 15.9% year-on-year (YoY) from ₹453 crore in the corresponding period last year. Net interest income (NII) was largely unchanged, slipping 0.9% YoY to ₹1,150 crore from ₹1,161 crore a year ago.
However, revenue from operations rose 6.5% YoY to ₹1,915.35 crore in the quarter, indicating steady business traction even amid pressure on margins.
However, revenue from operations rose 6.5% YoY to ₹1,915.35 crore in the quarter, indicating stable business momentum despite pressure on margins.
The board also announced an interim dividend of ₹0.50 per equity share with a face value of ₹2 each. The record date to determine eligible shareholders has been set as Friday, February 6, 2026.
Manappuram Finance share price trend
On Friday, Manappuram Finance share price closed 2.11% lower at ₹302.15 apiece.
The NBFC stock has faced near-term pressure, with its share price slipping slightly over the past five sessions and declining about 4% over the last month.
Zooming out further, the multibagger NBFC stock has gained 13.16% in six months and 56.32% in last one year. Manappuram Finance shares have rallied over 75.46% in last five years.
The NBFC stock has proven to be a multibagger stock as it has given whopping 740% returns since its listing.
Manappuram Finance share price is listed on both NSE and BSE. The NBFC stock touched a 52-week high of ₹321.60 on January 7, 2026 and a 52-week low of ₹168.83 on February 14, 2025.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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