Khaitan & Co Advised Manappuram Finance On Bain Capital’s ₹4,385 Crore Investment For Joint Control
Khaitan & Co advised Manappuram Finance and its promoters on Bain Capital’s strategic investment, securing joint control through preferential equity, share warrants, and an open offer.;
Khaitan & Co Advised Manappuram Finance on Bain Capital’s ₹4,385 Crore Investment for Joint Control
Khaitan & Co advised Manappuram Finance Limited and its promoters on Bain Capital’s strategic investment, securing joint control in the company through a combination of preferential allotment of equity shares, share warrants, and a mandatory open offer.
Bain Capital will invest approximately ₹4,385 crore to acquire an 18% stake on a fully diluted basis. Additionally, it has launched an open offer for 26% of Manappuram Finance’s expanded capital base, potentially increasing its total stake to 41.7%. Upon successful completion, Bain Capital will join as a co-promoter.
This transaction represents a major development in India’s financial services sector, underscoring growing private equity interest in NBFCs. The deal is subject to regulatory approvals and customary closing conditions.
The Khaitan & Co team advising on the transaction included Haigreve Khaitan (Senior Partner), Vivek Sriram (Partner), Gautam Suseel (Partner), Abhishek Dadoo (Partner), Gaurav Malhotra (Counsel), Rahul Chandramouli (Principal Associate), Atul Narayan (Senior Associate), Vaasavi Sashiraman (Senior Associate), Vismita Gahlot (Senior Associate), Aanchal Kapoor (Associate), Partha Mansukhani (Associate), Vishnu Vasudevan (Associate), Gaurang Mansinghka (Associate), Niyati Karia (Associate) and Shubhra Wadhawan (Associate); with additional support from Anshuman Sakle (Partner) and Yatharth V. Singh.
