RBI gives green light to Bain Capital’s proposed acquisition of up to 41.66% stake in Manappuram Finance

Kerala-based Manappuram Finance Ltd (MFL) on Saturday said it has received final approval from the Reserve Bank of India for Bain Capital’s proposed acquisition of up to 41.66 per cent of the company’s paid-up equity/convertible instruments.

With this approval, Bain Capital will be classified as a promoter of MFL and will jointly control the gold financier along with the existing promoters. The Board of Directors will be reconstituted and will consist of nominated directors from Bain Capital, in accordance with the transaction agreements, according to an MFL statement.

The RBI’s approval is in connection with the definitive agreements signed on March 20, 2025, under which Bain Capital (through its subsidiaries – BC Asia Investments XXV Limited and BC Asia Investments share.

The transaction will also trigger a mandatory open offer to purchase an additional 26.0 percent stake from public shareholders at ₹236 per share.

VP Nandakumar, MD & CEO, Manappuram Finance Limited, said, “The approval from the RBIis an important milestone in our partnership and reflects the strength of our governance framework and business model. With Bain Capital coming on board as a co-controlling shareholder, we are well positioned to accelerate growth in our core segments, further invest in technology and risk management capabilities, and build a professionally managed, future-proof financial services company.”

Further, the strategic investment will also help MFL improve and expand its branch network across India.

Published on February 14, 2026