Kotak Mahindra Capital Company ltd has informed the Exchange that in relation to the Open Offer Nil Equity Shares, have been tendered in the Open Offer Escrow Demat Account namely "MIIPL MANAPPURAM FINANCE OPEN OFFER ESCROW DEMAT ACCOUNT" opened with Ventura Securities Ltd bearing depository participant identification number IN303116 and the client identification number 15544837 , as per Open Offer Escrow Demat Account statement received by the Manager to the Open Offer from Ventura Securities Ltd, as at 17:01:33 on April 9, 2026.
MANAPPURAM · price
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Kotak Mahindra Capital Company, acting as manager to the open offer, has disclosed to NSE that as of April 9, 2026, no equity shares (Nil) have been tendered in the open offer escrow demat account. This open offer is being made by BC Asia Investments Xxy Limited along with several Bain Capital entities (acting as Persons Acting in Concert) to acquire up to 24,42,27,387 equity shares representing 26.00% of the expanded voting share capital of Manappuram Finance Limited. The offer is being made under SEBI (SAST) Regulations, with the Letter of Offer dated March 25, 2026. The disclosure clarifies that shares tendered are subject to validation and verification before acceptance by the acquirer.
This is a procedural disclosure confirming the open offer process is active for Bain Capital's acquisition of a 26% stake in Manappuram Finance. The nil tendering indicates the offer is in early stages with no shareholder responses yet. This marks a significant change in shareholding if successful, with Bain Capital entities acquiring substantial minority position in the gold loan finance company.