News: Manappuram Finance announced a strategic deal with Bain Capital Asia, which will invest ₹4,385 crore through a preferential allotment at ₹236 per share, a 30% premium to the weighted average price, for an 18% stake. Bain Capital will gain joint promoter status and a board seat, triggering an open offer for an additional 26%, potentially increasing its stake to over 40%. Post-deal, existing promoters will hold 28.9%. The board also approved acquiring a 99.9% stake in Manappuram Asset Finance. Additionally, Asirvad Micro Finance’s proposed IPO has been withdrawn.
View: Deal with Bain Capital is expected to bring further operational efficiencies as well as better governance in company.
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