RBI Clears Proposed Investment by Bain Capital Affiliates
Shares of Manappuram Finance are expected to remain in focus on Monday after the company received conditional approval from the Reserve Bank of India for a proposed stake sale to affiliates of Bain Capital.In a regulatory filing, the company confirmed that the central bank has approved the proposed investment by BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, both affiliates of Bain Capital.The approval paves the way for the proposed acquisition of control and shareholding of up to 41.66 percent of the paid up equity capital or convertible instruments of Manappuram Finance.Conditions Attached to RBI Approval
The regulatory clearance comes with specific...