Manappuram Finance Limited has announced that the tendering period for its open offer concluded with no tenders received. This development follows the company’s recent investment activities involving BC Asia Investments XXV Limited and BC Asia Investments XIV Limited.
The open offer, which was conducted in compliance with the Securities and Exchange Board of India’s regulations on substantial acquisition of shares and takeovers, ended on April 20, 2026. Despite the lack of tenders, the completion of the preferential issue of equity shares and warrants to the investors on March 27, 2026, marked a significant shift in the company’s control structure.
As of April 21, 2026, the investors have officially acquired control of Manappuram Finance and have been designated as ‘promoters’ alongside the existing promoters. This transition is in accordance with the terms set out in the securities subscription agreement and the shareholders’ agreement, both dated March 20, 2025.
The agreements involved key figures such as V.P. Nandakumar and Sushama Nandakumar, along with other members of the specified promoter and promoter group. The completion of these agreements and the open offer signifies a new phase for Manappuram Finance as it moves forward under the joint leadership of its new and existing promoters.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).