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 17:07:12 on April 20, 2026.
MANAPPURAM · price
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Kotak Mahindra Capital Company, acting as manager to the open offer, has disclosed that equity shares have been tendered in the escrow demat account for the open offer to acquire up to 24,42,27,387 fully paid-up equity shares of Manappuram Finance Limited. The offer represents 26% of the expanded voting share capital. The acquirer is BC Asia Investments Xxy Limited along with 7 persons acting in concert (including Bain Capital Asia Fund V). The shares were tendered by public shareholders as per the escrow account statement dated April 20, 2026. The final acceptance of shares will be subject to validation under SEBI (SAST) Regulations.
This disclosure indicates the open offer process is actively underway with shareholders tendering shares. The outcome will determine whether the acquirer achieves its target of acquiring 26% stake in Manappuram Finance.