Proceedings of EGM held on 16.04.2025
Awaiting price reaction for this filing.
Manappuram Finance held an Extra-Ordinary General Meeting (EGM) on April 16, 2025, via video conferencing. The Chairman briefed shareholders on Bain Capital acquiring joint control of the company in partnership with existing promoters, who remain fully invested. Bain Capital's proposed investment is over ₹4,385 crores, aimed at strengthening the balance sheet, driving digital transformation, and expanding into gold loans, microfinance, housing, SME, and vehicle finance. Four resolutions were tabled: increase in authorized share capital and amendment to the Memorandum of Association (ordinary resolution), and three special resolutions covering amendment to Articles of Association, preferential issue of equity shares and warrants, and grant of special rights to identified shareholders. Remote e-voting was held from April 12 to April 15, 2025, with the scrutinizer appointed to oversee the process. The meeting ran from 10:00 AM to 12:00 PM, and voting results will be announced separately.
This EGM marks a significant turning point for Manappuram Finance, with Bain Capital's ₹4,385 crore investment bringing in a major global institutional partner and likely supporting long-term growth and balance sheet strength. Shareholders should watch for the e-voting results, as approval of the preferential issue and special rights resolutions will directly affect shareholding structure and dilution.