Manappuram Finance has reached a pivotal milestone with the Reserve Bank of India (RBI) granting final approval for Bain Capital to acquire a significant stake in the company. The private equity giant, through its affiliates BC Asia Investments XXV and BC Asia Investments XIV, is set to acquire up to 41.66% of the company’s paid-up equity capital. Under the definitive agreement initially established in March 2025, Bain Capital committed an investment of approximately 4,385 crore. This capital infusion involves an 18% stake through the preferential allotment of equity shares and warrants at a price of 236 per share. The transaction triggers a mandatory open offer for an additional 26% stake from public shareholders at the same 236 price point. Following the completion of this deal, Bain Capital will be classified as a joint promoter, sharing control with the existing promoter group, which is expected to retain a 28.9% holding on a fully diluted basis. This strategic partnership arrives as the gold loan sector experiences a historic surge. Domestic gold prices in India recently touched a milestone of 1,60,540 per 10 grams in February 2026. This 18% rally has significantly enhanced the borrowing capacity of households, as the 75% Loan-to-Value (LTV) cap now allows for higher capital disbursals against the same quantity of collateral. Financially, Manappuram Finance reported a consolidated Asset Under Management (AUM) of 52,125 crore for the December 2025 quarter, reflecting a 17.9% year-on-year growth. The gold loan segment remains the primary engine, with its specific AUM jumping 58.2% annually to reach 38,754 crore. While top-line growth remains steady, the company is managing margin pressures. Consolidated net profit for the latest quarter stood at 239 crore, a 14.3% decline compared to the previous year. To reward shareholders, the board recently declared an interim dividend of 0.50 per share. The stock market has responded to these developments with notable activity. As of February 13, 2026, Manappuram’s share price closed at 302.15 on the NSE. Despite recent volatility, the stock has delivered a 56.32% return over the last 12 months, significantly outperforming broader indices. The entry of Bain Capital is expected to accelerate the company’s digital transformation and branch expansion. Management aims to leverage the new capital to enhance risk management and scale its non-gold portfolios, including vehicle finance and MSME lending, which currently contribute roughly 43% of total operations.