Manappuram Finance Receives Disclosure for Substantial Acquisition of Shares and Warrants
Manappuram Finance Limited announced it received a disclosure under Regulation 18(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, from BC Asia Investments XXV Limited ('Investor 1') and BC Asia Investments XIV Limited ('Investor 2'). Collectively, the investors are referred to as the 'Investors.'The disclosure pertains to the allotment of equity shares and warrants to the Investors. Specifically, Investor 1 was allotted 9,29,01,373 equity shares, while Investor 2 received 9,29,01,373 warrants. This allotment was made by the company's Committee of Directors - Preferential Issue on March 27, 2026, and is based on a securities subscription agreement dated March 20, 2025.
The allotment triggers an obligation for Investor 1 to make an open offer to acquire up to 24,42,27,387 equity shares from the company’s public shareholders.
Details of Acquisition
The table below summarizes the details of the acquisition:
| Detail | Investor 1 | Investor 2 |
|---|---|---|
| Number of equity shares acquired | 9,29,01,373 | 0 |
| Number of warrants acquired | 0 | 9,29,01,373 |
| Date of acquisition | March 27, 2026 | March 2026 |
| Mode of acquisition | Preferential Allotment | Preferential Allotment |
| Purchase price per share | INR 236.00 | INR 236.00 |
| Shareholding after acquisition (equity shares) | 9.89% of the current equity share capital* | 0.00% |
| Shareholding after acquisition (warrants) | 0.00% | 9.00% of share capital on a fully diluted basis |
| Shareholding of acquirer and PACs after the acquisition | 9,29,01,373 equity shares and 9,29,01,373 warrants representing 9.89% of current equity and 18.00% fully diluted | 9,29,01,373 equity shares and 9,29,01,373 warrants representing 9.89% of current equity and 18.00% fully diluted |
*Total share capital/voting capital to be taken as per the latest filing done by the company to the Stock Exchanges.
The Acquirers and other persons acting in concert have previously made a public announcement for an open offer on March 20, 2025.
This acquisition is in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Subscription Shares and Subscription Warrants are currently held in separate demat escrow accounts and will be released upon completion of the open offer.
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