Bain Capital is reportedly in talks to acquire a controlling stake in Manappuram Finance, India’s prominent gold loan provider.
The founding family, led by CEO VP Nandakumar, owns 35.25% but may sell a 10%-11% share and accept Bain’s INR 20 billion primary investment, enabling Bain to hold 45%-47% ownership. Bain has offered a premium of 20%-25%, though this remains unverified. Regulatory pressures, particularly regarding Nandakumar’s daughter’s succession, may be prompting this deal as Bain seeks full control for strategic growth in India’s gold loan market.