It must be noted that the stock is out of the F&O ban, allowing investors to create new positions.
In an exchange filing, the company said that its board of directors will meet on March 20 to evaluate a proposal for raising funds.
The funds could be raised through the issue of equity shares, warrants or other securities that could be converted into equity shares of the company.
The fund raising could also be done through debt securities through a preferential issue on a private placement basis, through a Qualified Institutional Placement (QIP) or through a rights issue or via any other method prescribed as per law.
Manappuram’s exchange notification also said that other business matters will be considered during the board meet, without specifying the details.
Manappuram shares have been in focus over the last few weeks after reports in the Economic Times have suggested that private equity firm Bain Capital is nearing a deal to acquire a controlling stake in the company.
The agreement could involve infusion of fresh capital from Bain and a secondary share sale by promoters, that could increase Bain’s stake in Manappuram to 46%.
At the end of the December 2024 quarter, promoters of Manappuram had a 35% stake in the company.
Shares of Manappuram Finance Ltd. settled 1.14% higher on Wednesday at ₹213.61. The stock has risen nearly 12% so far in 2025.
