Manappuram Finance gains CCI approval for Bain Capital deal

Manappuram Finance (MANAPPURAM.BO) announced it has received approval from the Competition Commission of India (CCI) regarding the underlying transaction involving BC Asia Investments XXV Limited and BC Asia Investments XIV Limited (collectively, "Bain Capital") acquisition in Manappuram Finance. As per the agreement dated March 20, 2025, Bain Capital will acquire 92,901,373 equity shares at a price of INR236 per share and 92,901,373 warrants, also at INR236 each. This investment triggers a mandatory open offer to the public shareholders. Bain Capital, along with existing promoters V.P. Nandakumar and Sushama Nandakumar, will gain control of the company and be classified as promoters. The transaction remains subject to other regulatory approvals, including from the Reserve Bank of India.