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 conditions.Any acquisition of shareholding by the investors that results in their holding crossing 26 percent of the paid up share capital of the company, other than through conversion of warrants as part of the proposed investment, after one year will require prior approval from the Reserve Bank of India.
Further, Manappuram Finance has been directed to advise the investors to submit an action plan to the RBI within the stipulated timeline. The action plan must ensure that there will not be more than one non banking financial company of the same category or housing finance company within their group under majority shareholding and control.
The company also stated that RBI approval for its subsidiaries, Asirvad Micro Fin and Manappuram Home Fin, in relation to the proposed investment remains pending.
Bain Capital to Be Classified as Promoter
Following the approval, Bain Capital will be listed as a promoter of the company. Along with the existing promoters, the private equity firm will exercise joint control over Manappuram Finance.Manappuram Finance Share Price Movement
Manappuram Finance shares declined by nearly 2 percent or ₹6 during Friday’s trading session. Over the past six months, however, the stock has delivered gains of more than 13 percent.The share price currently stands at ₹302.65, below its 52 week high of ₹321.60, which was recorded earlier in January 2026.
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