Kotak Mahindra Capital Company Ltd ("Manager to the Offer") has informed BSE as under:<BR><BR>"Please note that in relation to the Open Offer Nil Equity Shares, have been tendered in the ....
MANAPPURAM · price
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Kotak Mahindra Capital Company Limited, as the Manager to the Open Offer, has disclosed to BSE that Nil (zero) Equity Shares have been tendered in the Open Offer Escrow Demat Account as of 17:49:34 on April 17, 2026. The Open Offer is being made by BC Asia Investments XXY Limited (Acquirer), along with 7 Persons Acting in Concert (PACs) including Bain Capital Asia Fund V, L.P. and other BC Asia entities, to acquire up to 24,42,27,387 fully paid-up equity shares representing 26.00% of the Expanded Voting Share Capital of Manappuram Finance Limited. The tendered shares are subject to validation and verification before acceptance, in accordance with SEBI (SAST) Regulations and the Letter of Offer dated March 25, 2026.
Zero shares tendered at this early stage is not unusual as the offer process is still ongoing; however, it indicates limited initial acceptance from public shareholders, which could signal weak demand or that shareholders are waiting for the offer period to progress further.