Manappuram Finance Shares Soar Amid Bain Capital's Major Stake Acquisition

Shares of Manappuram Finance surged nearly 8% as Bain Capital launched a substantial Rs 5,764-crore open offer for a 26% stake in the company. The stock touched a 52-week high on the BSE, following Bain's decision to acquire an 18% stake, subject to regulatory approvals.

Shares of Manappuram Finance experienced a notable increase, rising nearly 8% after Bain Capital, a US-based private investment firm, announced a substantial Rs 5,764-crore open offer to acquire an additional 26% stake in the gold loan financing company.

The stock closed at Rs 234.25 on the BSE, after reaching a 52-week high of Rs 247.55 during the trading session. On the NSE, Manappuram Finance shares climbed 7.77% to Rs 234.40.

This surge followed Bain Capital's decision to purchase an 18% stake in Manappuram Finance for Rs 4,385 crore. The offer sets the share price at Rs 236, with Bain's potential stake post-investment ranging from 18% to 41.7%, pending necessary regulatory approvals and customary closing conditions.

(With inputs from agencies.)