Mumbai, Feb. 24 -- According to these reports, the deal would involve Manappuram's promoter group, led by managing director and CEO V.P. Nandakumar, selling a substantial portion of its 35.25% holding to Bain Capital.

The media reports suggest that if the deal materializes, Bain Capital may subsequently launch a voluntary open offer to acquire an additional 26% stake in Manappuram Finance.

Following the surge in share price and media attention, the stock exchanges sought clarification from Manappuram Finance. In response, the company acknowledged the media reports but clarified that, as of now, there are no developments requiring regulatory disclosure. Manappuram Finance emphasized its ongoing exploration of strategic and growth opportu...