Please find attached the draft letter of offer dated April 4, 2025
Awaiting price reaction for this filing.
Manappuram Finance Limited has received and filed the Draft Letter of Offer (DLoF) dated April 4, 2025, for the open offer made by BC Asia Investments XXV Limited (acquirer) along with seven persons acting in concert (PACs), all entities linked to Bain Capital. The open offer is to acquire up to 24,42,27,387 fully paid-up equity shares (26% of the expanded voting share capital) from public shareholders at a price of ₹236 per share, amounting to a maximum offer consideration of approximately ₹5,763.77 crore. This follows the public announcement on March 20, 2025, and detailed public statement on March 27, 2025, and is part of a broader transaction involving preferential allotment of subscription shares to the acquirer. The offer is expected to open on May 20, 2025, and close on June 2, 2025, subject to SEBI observations and statutory approvals.
This filing confirms progression of the Bain Capital acquisition of a significant stake in Manappuram Finance. Shareholders now have visibility on the open offer price (₹236/share) and timeline. The stock may see activity around the offer window, and the entry of a marquee global private equity investor could be viewed positively, though regulatory approvals remain a condition for completion.