Manappuram Finance Limited has informed the Exchange about General Updates
MANAPPURAM · price
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Manappuram Finance has received RBI approval for the proposed change in management at its two subsidiaries, Manappuram Home Finance Limited and Asirvad Micro Finance Limited. Ms. Radhika Subramanian, nominated by investors BC Asia Investments XXV and XIV (Bain Capital affiliates), has been approved as Additional Director (Non-Executive and Non-Independent) on the boards of both subsidiaries. This is a key step toward completing the preferential issue of 9.29 crore equity shares and 9.29 crore warrants at ₹236 per share, totalling about ₹4,384 crore, which will make Bain Capital a co-promoter alongside existing promoters V.P. Nandakumar and family. The mandatory open offer to public shareholders and the main company-level transaction are still pending further RBI and other regulatory approvals.
This is a positive procedural step toward closing a large capital infusion from Bain Capital, which could strengthen the company's balance sheet. However, the main transaction and open offer are not yet complete, so the share price impact may remain muted until final approvals are in place.