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Manappuram stock hits record high after Bain deal
March 22, 2025
|Business Standard
Analysts believe the deal will improve operational efficiencies
Shares of Manappuram Finance jumped over 7 percent on Friday after the company informed the exchanges that Bain Capital will be investing ₹4,385 crore to acquire 18 percent stake in the company. The move will help the US private equity firm gain control over the gold loan provider, and ease its management succession plans.
Bain Capital will subscribe to Manappuram's shares and warrants at ₹236 apiece, at a 9 percent premium over the stock's closing price on Thursday of ₹217.5.
After the investment, which is valued at $508 million, Bain Capital will jointly control Manappuram with other large shareholders, termed as 'promoters' under regulations.
Manappuram's shares rose 7.7 percent to settle at ₹234.4, their highest level on record.
هذه القصة من طبعة March 22, 2025 من Business Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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