Kotak Mahindra Capital Company, acting as the manager for the open offer, has confirmed that nil equity shares have been tendered in the designated escrow demat account for the acquisition of Manappuram Finance. This update, dated April 6, 2026, concerns the ongoing acquisition process by the identified acquirer group, which seeks to purchase up to 24,42,27,387 shares, representing 26.00% of the company’s expanded voting share capital.
Current Tender Status
In the latest update regarding the open offer for Manappuram Finance, it has been confirmed that no equity shares have been received in the escrow demat account as of 17:14:27 on April 6, 2026. The escrow account, specifically titled ‘MIIPL MANAPPURAM FINANCE OPEN OFFER ESCROW DEMAT ACCOUNT,’ remains the official repository for shares submitted by public shareholders.
Details of the Acquisition
The open offer, initiated by the acquirer group led by BC Asia Investments XXV Limited and associated entities, targets the acquisition of up to 24,42,27,387 fully paid-up equity shares. This represents 26.00% of the expanded voting share capital of Manappuram Finance. The company has clarified that this disclosure accounts for shares held in dematerialized form.
Next Steps for Shareholders
All shares submitted by public shareholders are subject to a rigorous process of validation and verification to ensure they meet the specific requirements outlined in the Letter of Offer dated March 25, 2026. Consequently, the final number of shares accepted for the acquisition may differ from the initial figures reported in the current escrow statement. Shareholders are encouraged to monitor further updates regarding the progress of the offer.
Source: BSE
