New Delhi, Feb. 15 -- Manappuram Finance, on Saturday, said that the company has received Reserve Bank of India (RBI) approval for the proposed acquisition of up to 41.66% of the company's paid-up equity capital or convertible instruments by Bain Capital affiliates - BC Asia Investments XXV Ltd and BC Asia Investments XIV Ltd.

Manappuram Finance said in a statement that the RBI approval, received on February 13, 2026, relates to the definitive agreements signed on March 20, 2025, under which Bain Capital had committed to invest about Rs.4,385 crore to acquire an 18% stake on a fully diluted basis through a preferential allotment of equity shares and warrants at Rs.236 per share.

The deal also triggers a mandatory open offer to acquire a...