Kotak Mahindra Capital Company has provided a status update regarding the open offer for Manappuram Finance. As of April 13, 2026, equity shares have been successfully tendered into the designated escrow account. These shares are currently subject to a mandatory validation and verification process to ensure compliance with the terms established in the official letter of offer. The final count of accepted shares will be confirmed following this review period.
Status of Tendered Equity Shares
Following the public announcement regarding the open offer for Manappuram Finance, the designated escrow account, managed by Ventura Securities Limited, has begun receiving equity shares from public shareholders. As of April 13, 2026, these shares have been processed in dematerialized form as part of the acquisition process.
Verification and Acceptance Process
It is important to note that the current disclosure represents the total shares tendered at the time of reporting. These shares are currently undergoing a thorough validation and verification process to confirm the submission of all required documentation. Consequently, the final number of shares accepted by the acquirers—a consortium including BC Asia Investments and Bain Capital—may differ from the initial number reported.
Context of the Acquisition
The open offer pertains to the acquisition of up to 24,42,27,387 equity shares, representing 26.00% of the expanded voting share capital of Manappuram Finance. This move is part of a strategic acquisition plan led by the group of entities acting in concert to expand their interest in the target company.
Source: BSE
