Kotak Mahindra Capital Company Limited provides an update on the open offer for Manappuram Finance. Following SEBI’s observation letter on September 12, 2025, the dispatch of the Letter of Offer will occur after the receipt of the last of the RBI Approvals. The tendering period will commence within twelve working days of this receipt. Payment to successful shareholders will be completed within the statutory timeframe, with interest for any delays.
Open Offer Update
Public Shareholders are advised that SEBI issued an observation letter on September 12, 2025, regarding the open offer.
Key Dates and Procedures
The Letter of Offer dispatch will occur after the receipt of the last of the RBI Approvals.
The tendering period for the Open Offer is slated to commence within twelve Working Days from the date of the receipt of the last of RBI Approvals.
Payment Terms
Payment to successful Public Shareholders tendering Equity Shares will be completed within the statutory timeframe. In accordance with SEBI regulations, the Offer Price includes interest at 10.00% per annum for any delay in payment to Public Shareholders whose Equity Shares are accepted.
Pending Approvals
As of the date of this announcement, the Reserve Bank of India approvals by Target Company, Asirvad Micro Finance Limited, and Manappuram Home Finance Limited, regarding the Open Offer and Underlying Transaction are awaited.
Source: BSE
