Manappuram Finance Limited has released the post-offer advertisement for the open offer initiated by BC Asia Investments XXV Limited and other entities acting in concert. The acquisition process, which targeted up to 26.00% of the expanded voting share capital, officially concluded on April 20, 2026. Notably, no shares were tendered by public shareholders during the offer period, resulting in nil acquisition through this specific open offer route.
Open Offer Summary
The open offer, managed by Kotak Mahindra Capital Company Limited, was launched to acquire up to 24,42,27,387 equity shares of Manappuram Finance Limited, representing 26.00% of the company’s expanded voting share capital. The offer price was set at INR 248.29 per share, which included an offer price of INR 236 plus applicable interest of INR 12.29 per share.
Outcome of the Offer
According to the official announcement, the offer period commenced on April 6, 2026, and closed on April 20, 2026. Upon the conclusion of the process, it was confirmed that zero shares were tendered by the public shareholders. Consequently, the size of the open offer acquisition stands at nil. The acquirer and the persons acting in concert (PACs) maintain their existing holdings, while the public shareholding in the company remains at 58.34%.
Context of Shareholding
Prior to the open offer, the company allotted subscription securities to the acquirer and PAC 1 on March 27, 2026. These securities comprise 9,29,01,373 subscription shares and an equivalent number of subscription warrants. The acquirer is permitted to exercise voting rights on the subscription shares starting from April 21, 2026. While the open offer resulted in no additional share acquisition, the company’s capital structure remains influenced by these prior preferential allotments.
Source: BSE
