Mumbai: In a regulatory filing to the BSE and NSE, the Kerala-based non-banking financial company said it had issued the clarification after stock exchanges sought an explanation on a news item published on January 9 titled “Manappuram’s Bain deal delayed by Indian regulatory concerns, sources say”.
“The media report is denied,” the company said, adding that it has been making regular disclosures regarding the proposed investment by BC Asia Investments XIV Limited and BC Asia Investments XXV Limited, entities affiliated with Bain Capital. The transaction involves the acquisition of joint control in Manappuram Finance along with the existing promoters, and extends to key subsidiaries including Asirvad Micro Finance Ltd and Manappuram Home Finance Ltd.
Manappuram Finance highlighted that it has already received approvals from the Reserve Bank of India (RBI) for a change in management at the parent company as well as at its microfinance and housing finance arms. These approvals were communicated to the stock exchanges in August and September 2025.
With respect to the change-of-control application filed for the overall transaction, the company said that all necessary filings have been made with the RBI, including responses to any clarifications sought by the regulator. “Final approval of the RBI for the proposed transaction is pending,” the filing said, adding that investors would be informed of any material developments.
The company also clarified that there is no other information pending disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in connection with the transaction.
The Bain Capital deal is seen as a significant strategic move for Manappuram Finance, potentially strengthening its capital base and governance framework at a time when NBFCs remain under close regulatory scrutiny. Market participants are closely tracking regulatory approvals, given the size of the transaction and its implications for control and management.
Shares of Manappuram Finance have been volatile in recent sessions amid speculation around the deal, with investors awaiting clarity on timelines for completion.