Manappuram Share Price Fall Over 7% After Reports on RBI’s Concern on Bain Capital Deal

Shares of Manappuram Finance declined by 7% on January 9, 2026, following a report stating that the Reserve Bank of India (RBI) expressed concerns over Bain Capital’s proposed investment due to regulatory restrictions on holding stakes in multiple non-bank lenders. 

Bain Capital’s Plan Faces Regulatory Concerns 

According to a Reuters report, RBI has raised objections to Bain Capital’s proposal to acquire a significant stake in Manappuram Finance while maintaining a controlling interest in another non-bank lender, Tyger Capital.  

Bain Capital had announced plans to acquire an 18% stake in Manappuram in March 2025, valued at approximately ₹4,400 crore, and intended to make an additional 26% open offer to consolidate its position. 

The planned investment would be made through Bain's funds BC Asia Investments XXV and BC Asia Investments XIV. As of now, Bain Capital also holds 93% in Tyger Capital, formerly Adani Capital, through its Special Situations fund.  

This dual-control over lenders prompted the RBI to examine the structure more closely, given its policy discouraging investors from significant control over multiple lending firms. 

Regulatory Approvals and Current Position 

While Bain has already received necessary approvals from the Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI), the final go-ahead from the RBI remains pending.  

As per regulatory guidelines, the RBI’s approval is essential for any significant stake acquisition involving financial institutions. The reported strategy now involves Bain exploring a phased divestment in Tyger Capital as a possible response to the regulatory concerns.  

Previous precedent shows that private equity firms with over 20% stake in non-bank lending firms have been required to reduce holdings if they attempt to acquire controlling interest in additional lenders. 

Read More: PTC Industries Share Price in Focus as Subsidiary Secures Order for Superalloy Castings for New Glenn’s BE-4 Engines! 

Manappuram Finance Share Price Performance  

As of January 09, 2026, at 3:01 PM, Manappuram Finance share price on NSE was trading at ₹285.25 down by 7.84% from the previous closing price. 

Conclusion 

The reported delay in Bain Capital's proposed stake acquisition in Manappuram Finance due to RBI reservations has led to a notable impact on the company's stock price. The situation underscores regulatory complexity in managing investments across multiple financial institutions in the non-banking sector. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.