Manappuram Finance share price rallies 4.5% after clarification on Bain Capital deal reports

Key Highlights

• On the same day, the company responded, stating that “The media report is denied, factually incorrect, and speculative in nature.” The company said it has provided regular updates regarding the proposed investment by BC Asia Investments XIV Limited and BC Asia Investments XXV Limited in the company, as well as the acquisition of joint control in the company and its subsidiaries, including Asirvad Micro Finance Limited and Manappuram Home Finance Limited.
• It further said that it has also provided regular updates regarding the RBI’s approval for a change in management in the company and its subsidiaries.
• “In respect of the change of control application filed with the RBI in relation to the proposed transaction, the necessary filings (including responses to clarifications sought by the RBI) have been made, and the final approval of the RBI for the proposed transaction is pending.
• We will keep the stock exchanges duly updated in this regard,” the company said in its regulatory filing dated January 9.
• Apart from the recent company-specific developments, sharp volatility in gold prices has also appeared to impact the stock’s performance, as it is down 4.5% so far in January.