RBI Clears Bain Capital Stake in Manappuram Finance
Why in the news
RBI gave its nod for Bain Capital to invest in Manappuram Finance, a non-bank lender, in a deal that brings joint control.
Key facts
| Point | Detail |
|---|---|
| Approving authority | Reserve Bank of India |
| Investor | Bain Capital |
| Investee | Manappuram Finance |
| Amount | ₹4,385 crore |
| Control and stake | Joint control; stake could go up to 41.66% |
| Subsidiaries involved | Asirvad Micro Finance and Manappuram Home Finance |
Purpose
- Strengthen the capital base.
- Expand lending operations.
Exam angle
- Amount and stake: ₹4,385 crore, up to 41.66%.
- Subsidiaries: Asirvad Micro Finance, Manappuram Home Finance.
- Regulatory approval came from RBI.