Manappuram Finance Shares Drop 2% as RBI Clears Bain Capital Stake Buy

• Manappuram Finance shares fell 2% after RBI approved Bain Capital's acquisition of up to 41.66% stake.
• Bain Capital will be classified as a promoter and jointly control the gold loan financier.
• RBI approval has conditions: acquisitions over 26% after one year (excluding warrant conversions) need prior RBI approval.
• Investors must submit an RBI-compliant action plan to avoid majority control in multiple NBFCs/HFCs.
• Bain Capital committed ₹4,385 crore for an 18% stake at ₹236 per share, triggering a mandatory open offer for an additional 26%.