The Kerala-based gold loan company noted in a regulatory filing that it has been providing regular updates on the proposed investment by the above-mentioned entities in the company. This includes acquisition of joint control (along with the existing promoters of the company) over the company and its subsidiaries, including receipt of approval from RBI for a change in management.
Manappuram Finance’s subsidiaries include Asirvad Micro Finance Ltd and Manappuram Home Finance Ltd.
The above clarification comes in the wake of reports that the transaction is facing regulatory hurdles given the regulations that do not allow a single entity/promoter to have a majority stake in more than one lender. Global private investment company Bain has a majority stake in Tyger Capital.
Reports suggest that Bain Capital could divest its stake in Tyger Capital so that its proposed investment in Manappuram Finance gets regulatory approval.
In March 2025, Manappuram Finance announced that Bain Capital, through its subsidiaries BC Asia Investments XXV Ltd and BC Asia Investments
The transaction will lead to a mandatory open offer to purchase an additional 26.0 percent stake in the company on an expanded capital basis (excluding warrants).
Based on the open subscription, Bain Capital’s stake after the investment will range between 18.0 percent and 41.7 percent on a fully diluted basis (including shares to be issued pursuant to the exercise of warrants).
Existing Promoters will hold a 28.9 percent stake in the company post-investment on a fully diluted basis (including shares to be issued pursuant to the exercise of warrants). The transaction is subject to customary closing conditions and regulatory approvals.
Published on January 10, 2026
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