Manappuram Finance Limited announced that the Reserve Bank of India (RBI) granted final approval on February 13, 2026, for the acquisition of up to 41.66% of the company’s paid-up equity capital by Investor 1 (BC Asia Investments XXV Limited) and Investor 2 (BC Asia Investments XIV Limited). The RBI has also waived the mandatory public notice period for this transaction, which is part of a larger proposed investment and mandatory Open Offer.
Final Regulatory Clearance Received
Manappuram Finance Limited has confirmed receipt of the final approval from the Reserve Bank of India (RBI) concerning a significant proposed acquisition of control and shareholding. The approval, communicated via a communication dated February 13, 2026, covers the acquisition of up to 41.66% of the company’s paid-up equity capital and/or convertible instruments by BC Asia Investments XXV Limited (Investor 1) and BC Asia Investments XIV Limited (Investor 2).
Waiver and Pending Approvals
In a key development, the RBI has acceded to the Company’s request for a waiver of the public notice period mandated under the regulations. This transaction is intrinsically linked to a mandatory Open Offer to public shareholders, following the substantial acquisition of shares by the Investors and associated parties.
It must be noted that the final consummation of this underlying proposed investment, alongside the completion of the Open Offer, remains conditional upon securing requisite approvals for Asirvad Micro Finance Limited and Manappuram Home Finance Limited, in line with the terms of the securities subscription agreement signed on March 20, 2025.
Conditions Attached to RBI Approval
The final approval granted by the RBI is subject to several specific conditions. Chief among these conditions are:
- Any future acquisition resulting in the Proposed Investors crossing 26% of the paid-up share capital (excluding warrant conversion) after one year will require prior approval from the RBI.
- The Company must advise the Investors to submit an action plan to the RBI ensuring that the group will not have more than one non-banking financial company or housing finance company of the same category under its majority shareholding and control.
The Company referenced previous communications regarding this proposed transaction, including filings dated March 20, 2025, June 25, 2025, August 27, 2025, and September 17, 2025.
Source: BSE
