Manappuram Finance Limited has informed the Exchange about General Updates
MANAPPURAM · price
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Manappuram Finance has received approval from the Competition Commission of India (CCI) for the preferential issue and open offer by BC Asia Investments XXV and XIV Limited. The deal involves issuing 9.29 crore equity shares and 9.29 crore warrants at INR 236 each, totalling about INR 4,385 crore in potential investment. Upon closing, BC Asia Investments will be classified as a co-promoter and gain control of the company along with the existing promoters (V.P. Nandakumar and Sushama Nandakumar). A mandatory open offer to public shareholders is also part of the transaction. Completion of the deal still requires approval from the Reserve Bank of India (RBI).
This is a significant change-of-control event for the company. Public shareholders may face dilution, but the new investor brings fresh capital and strategic backing. The RBI approval is the next key milestone to watch before the deal can be finalised.