Manappuram Finance Board Plans Fundraising Proposal March 20

Manappuram Finance Ltd. is set to hold a board meeting on March 20, 2025, to evaluate a proposal for raising funds through various financial instruments, including equity shares and debt securities. The fundraising strategy may involve methods such as preferential issues and qualified institutional placements, and will be subject to regulatory approvals. Recent reports suggest that private equity firm Bain Capital may be nearing a deal to acquire a controlling stake in the company, potentially boosting Bain's ownership to 46%. The company has also temporarily closed its trading window from March 17 until 48 hours after the board meeting, reopening on March 24. Investors are closely monitoring these developments, as the fundraising could significantly influence the company's growth trajectory. Shares of Manappuram have shown positive movement, gaining approximately 12% year-to-date and trading near their 52-week highs.