BC Asia Investments XXV Limited and BC Asia Investments XIV Limited (collectively ‘Acquirers’) have disclosed a substantial acquisition of equity shares and warrants in Manappuram Finance Limited, dated March 27, 2026. The total transaction involved the acquisition of 9,29,01,373 subscription shares and warrants each, at a price of INR 236 per unit, via Preferential Allotment. Post-acquisition, the Acquirers’ total diluted shareholding stands at 18.00% of the Target Company.
Disclosure of Substantial Shareholding Change
BC Asia Investments XXV Limited and BC Asia Investments XIV Limited (referred to as the ‘Acquirers’) have formally notified Manappuram Finance Limited regarding a significant change in shareholding pursuant to preferential allotment completed on March 27, 2026. This disclosure covers the holding of the Acquirers along with their Persons Acting in Concert (PACs).
Details of the Transaction
The acquisition was executed through a Preferential Allotment mechanism. Specifically, the transaction involved:
- Investor 1 (BC Asia Investments XXV Limited) was allotted 9,29,01,373 Equity Shares at INR 236/- per share.
- Investor 2 (BC Asia Investments XIV Limited) was allotted 9,29,01,373 Warrants at INR 236/- per warrant, each convertible into one equity share.
The total pre-acquisition holding of the Acquirers and PACs was 0.00%. Following the acquisition, the Acquirers now hold 9.89% of the voting rights via shares and 18.00% on a fully diluted basis (assuming full conversion of warrants).
Post-Acquisition Holding Summary
The consolidated position of the Acquirers and PACs after the transaction is detailed as follows:
| Category | Shares Carrying Voting Rights | % w.r.t. Total Share Capital | % w.r.t. Total Diluted Capital |
|---|---|---|---|
| Shares Carrying Voting Rights | 9,29,01,373 | 9.89% | 9.00% |
| Total (Including Warrants) | 18,58,02,746 | 9.89% | 18.00% |
Salient Features and Control Dynamics
Investor 1’s Subscription Shares rank pari passu with existing equity shares. Investor 2’s Subscription Warrants grant the right to subscribe to equity shares, exercisable over a period commencing four months from allotment expiry and lasting up to eighteen months from allotment.
The documentation confirms that upon closing of related agreements (SSA and SHA), the Acquirers will acquire and exercise control over the Target Company and will be deemed to become ‘promoters’ alongside the Existing Promoters.
Capital Structure Change
The total equity share capital of Manappuram Finance Limited has increased due to this transaction:
- Before Acquisition: 84,64,34,729 equity shares (Face Value INR 2 each).
- After Acquisition: 93,93,36,102 equity shares (Face Value INR 2 each).
- Total Diluted Capital (Post): 1,03,22,37,475 equity shares (Face Value INR 2 each).
The authorized signatory confirming this extensive disclosure on behalf of both entities is Numesh Nunkoo.
Source: BSE
