Bain Capital to buy 18% stake in Manappuram Finance for ₹4,385 cr

American private investment firm Bain Capital has announced plans to acquire joint control of gold loan financier Manappuram Finance. Bain Capital will buy an 18% stake in the NBFC for ₹4,385 crore and will make an open offer for an additional 26% stake. Based on the open offer subscription, Bain Capital's stake post-investment will vary between 18% to 41.7%.