Kotak Mahindra Capital Company has released an update regarding the open offer for Manappuram Finance Limited. As of April 17, 2026, it has been confirmed that nil equity shares have been tendered in the designated escrow demat account. The offer, which seeks to acquire up to 24,42,27,387 fully paid-up equity shares, representing 26.00% of the expanded voting share capital, remains subject to verification.
Current Status of Equity Tendering
Following the public announcement regarding the acquisition of 26.00% of the expanded voting share capital of Manappuram Finance Limited, the process of receiving shares from public shareholders is underway. According to the latest update provided by the manager to the offer, no shares have been successfully tendered into the designated escrow account as of the close of business on April 17, 2026.
Verification and Compliance
The manager to the offer has clarified that all shares submitted by shareholders will undergo a rigorous validation and verification process. This ensures that all tendered equity shares meet the specific requirements outlined in the Letter of Offer dated March 25, 2026. Final acceptance of any shares is contingent upon the successful completion of these mandatory checks.
Offer Scope
The open offer, which aims to acquire up to 24,42,27,387 equity shares, is being facilitated by a consortium of acquiring entities, including BC Asia Investments XXV Limited, BC Asia Investments XXIV Limited, BC Asia Investments XXVI Limited, BC Asia Investments XXI Limited, Bain Capital Asia Fund V, L.P., BC Asia V CTB Investors, L.P., and BC Asia V Private Investors, L.P. The acquiring parties continue to monitor the tender process as the window for shareholder participation remains open.
Source: BSE
