Bain Capital Targets Major Stake in Manappuram Finance with Open Offer

Bain Capital has launched a Rs 5,764 crore open offer to acquire an additional 26% stake in Manappuram Finance. This follows their decision to purchase an 18% stake in the firm for Rs 4,385 crore. Bain's stake could rise to 41.7%, pending regulatory approvals.

US-based private investment giant Bain Capital has unveiled a significant open offer of Rs 5,764 crore to acquire an additional 26% stake in Manappuram Finance, a leading Indian gold loan financier.

The open offer comes on the heels of Bain Capital's strategic move to purchase an 18% equity stake in the company for Rs 4,385 crore, thereby boosting its presence in the Indian financial services sector.

The offer sets the share price at Rs 236 and could increase Bain's holding to a substantial 41.7%, subject to regulatory approvals. Founded in 1949, Manappuram has expanded its financial services beyond gold loans, with diversified offerings in microfinance, vehicle finance, and more.

(With inputs from agencies.)