Kotak Mahindra Capital Company Limited has submitted to exchange a copy of updates on Open Offer to the Public Shareholders of the target company
MANAPPURAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts less than Nifty Smallcap 250 and 2.5 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Kotak Mahindra Capital, the manager to the open offer, has informed exchanges that SEBI has issued its observation letter (dated September 12, 2025) for Bain Capital's open offer to buy up to 24.42 crore equity shares (26% of expanded voting share capital) of Manappuram Finance at a face value of INR 2 each. The acquirer is BC Asia Investments XXV Limited, along with seven PACs (all Bain Capital entities). The Letter of Offer will be dispatched to public shareholders once the last RBI approval is received, and the tendering period will start within 12 working days from that date. Payment to shareholders who tender shares will be made within 10 working days after the tendering period ends, with 10% per annum interest in case of any delay. RBI approvals are still awaited for Manappuram Finance, Asirvad Micro Finance, and Manappuram Home Finance.
The open offer is moving closer to completion with SEBI's clearance now in place, but it remains pending RBI approval before public shareholders can tender their shares. Once RBI gives the green light, shareholders will get a clear exit opportunity at the offer price, and this signals a significant change in ownership involving a major global private equity firm (Bain Capital).