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Manappuram Finance Shares Extend Gains As Morgan Stanley Hikes Target Price

Summary by NDTV Profit

Shares of Manappuram Finance Ltd. rose, extending gains for the eighth day on Monday, after Morgan Stanley increased the target price for Manappuram Finance from Rs 180 to Rs 220, following Bain Capital's proposal to become a promoter of the company.While the strategic shift is expected to bring positive changes, there is not enough information yet to fully assess how this will impact the company's near-term performance, the brokerage said in it…

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NewsDrum

Bain Capital's strategic investment to boost Manappuram Finance's corp governance: S&P

New Delhi, Mar 25 (PTI) S&P Global Ratings on Tuesday said Manappuram Finance Ltd's corporate governance will get a boost from Bain Capital's recent strategic investment. The US-based private investment firm could materially influence the India-based gold financier's strategy and appoint key personnel, including the CEO, it said. On March 20, Bain Capital said it would invest about Rs 4,390 crore to acquire an 18 per cent stake in Manappuram, su…

17 days ago

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Private Equity Wire

Bain Capital to acquire 18% stake in Manappuram Finance in $508m deal - Private Equity Wire

Bain Capital is set to acquire an 18% stake in Manappuram Finance for $508m, a move that will see the US private equity giant jointly control the Indian gold loan provider alongside existing promoters, according to a report by Reuters. The deal, which values Manappuram at a 9% premium over its last closing price, has sent the company’s stock to record highs, surging over 6% on Friday. Manappuram’s long-time CEO and founder, VP Nandakumar, will t…

18 days ago

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