New Delhi, Jan. 12 -- Manappuram Finance share price saw renewed buying in Monday's session on January 12, surging 4.5% to hit the day's high of Rs.298.70 apiece after the gold loan financier issued a clarification on media reports suggesting that the Reserve Bank of India (RBI) had delayed the company's deal with Bain Capital.

The company's shares had crashed nearly 8% on Friday after news agency Reuters reported, citing sources, that the RBI had raised objections to Bain Capital's plans to acquire a controlling stake in Manappuram Finance.

Following this, the exchanges sought clarification on January 9 regarding the media reports. On the same day, the company responded, stating that "The media report is denied, factually incorrect, an...