Manappuram Shares Plunge 7% as RBI Halts Bain Capital's Acquisition Deal

• Manappuram Finance shares dropped 7% after a Reuters report indicated RBI objections to Bain Capital's controlling stake acquisition.
• Bain Capital's planned investment of Rs 4,400 crore for an 18% stake, followed by an open offer for an additional 26%, is now delayed.
• The RBI's concern stems from Bain Capital's existing 93% ownership in another NBFC, Tyger Capital (formerly Adani Capital).
• Bain is exploring a phased divestment in Tyger Capital to address the regulatory concerns, as the RBI disapproves of investors controlling multiple lenders.
• Despite approvals from SEBI and the competition commission, RBI is the final authority for large stake purchases in financial institutions.

Why It Matters: RBI's objection to Bain Capital's dual NBFC control delays Manappuram deal, causing share price drop.