RBI Grants All Approvals for Bain Capital to Acquire Joint Control of Manappuram Finance and Its Subsidiaries

Manappuram Finance Limited has announced that its subsidiaries, Asirvad Micro Finance Limited and Manappuram Home Finance Limited, have received approvals from the Reserve Bank of India for indirect change in control and management. This marks a key milestone in a strategic investment by affiliates of Bain Capital, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, to drive the next phase of growth for Manappuram and its subsidiaries. Upon completion of the investment and open offer, Bain Capital will hold between 18.0% and 41.66% shareholding in Manappuram Finance Limited on a fully diluted basis, and will jointly control the company along with the existing promoters.