Manappuram Finance open offer: shareholders await letter of offer

Kotak Mahindra Capital Company Limited has provided an update on the open offer for 24,42,27,387 fully paid-up equity shares of Manappuram Finance Limited, representing 26.00% of the expanded voting share capital. The Securities and Exchange Board of India (SEBI) issued an observation letter on September 12, 2025.

The letter of offer will be dispatched to public shareholders following the receipt of all necessary RBI approvals. The tendering period for the open offer is set to commence no later than twelve working days after the final RBI approvals are received.

Payment to successful public shareholders who tender their equity shares will be completed within ten working days from the last date of the tendering period. In cases of delay, an interest of 10.00% per annum will be paid on the accepted equity shares. Approval from the Reserve Bank of India for the target company, Asirvad Micro Finance Limited, and Manappuram Home Finance Limited is still pending.