Manappuram Finance Gains 2% On Record, Announcing Bain capital Nears A Deal To Gather A Controlling Stake.
Bain capital is near sealing a deal with the promoters of Kerala-based total gold loan provider Manappuram Finance to accumulate a controlling stake, The Economic Times said on february 24.
The deal comes quickly after the reserve bank of india lifted curbs at the non-financial institution lender's subsidiary, Asirwad Micro Finance, a month ago, the record stated.
Manappuram Finance stock reacted definitely to the report, leaping 2.45 percent to Rs 206.25 on NSE on february 24.
Coping with director and chief government Nandakumar VP, who owns 35.35 percent, leads the promoter group. The organisation has a market capitalisation of Rs 17,000 crore based totally at the ultimate price of Friday.
Early this month, the employer had pronounced a weaker-than-anticipated december area earnings due to stress in its microfinance commercial enterprise.
The consolidated internet income declined to Rs 282 crore in Q3FY25, at the same time as awful loans and provisions from its microfinance arm surged fourfold to Rs 473 crore.
Manappuram's gold loan portfolio, which makes up seventy five percentage of its overall sales, jumped 17 percentage, benefiting from report-excessive gold prices.
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