Kotak Mahindra Capital Company has provided an update regarding the ongoing open offer for Manappuram Finance. The disclosure confirms that as of April 16, 2026, nil equity shares have been tendered in the designated escrow demat account. The open offer seeks to acquire up to 24,42,27,387 equity shares, representing 26% of the company’s expanded voting share capital from public shareholders.
Tender Status Overview
Following the initiation of the open offer process, official records indicate that no shares have been tendered into the ‘MIIPL MANAPPURAM FINANCE OPEN OFFER ESCROW DEMAT ACCOUNT’ as of the close of business on April 16, 2026. This escrow account, maintained with Ventura Securities Limited, serves as the primary repository for shares submitted by public shareholders during the acquisition period.
Offer Details and Compliance
The acquisition project involves a consortium of entities, including BC Asia Investments XXV and other associated investment arms, seeking to acquire a controlling stake of 26% in the expanded equity base of Manappuram Finance. While no shares have been processed into the account thus far, it is clarified that all submitted documentation remains subject to rigorous validation and verification processes to ensure compliance with the terms outlined in the formal Letter of Offer dated March 25, 2026.
Important Clarification for Shareholders
It is noted that the current status of nil tender is based on the specific dematerialized data captured as of 16:53:22 on April 16, 2026. The actual number of shares ultimately accepted by the acquirers may fluctuate based on final verification of the documents submitted by shareholders. The consortium continues to move forward with the acquisition process, keeping the market updated on tender progress as required.
Source: BSE
