Reported about 15 hours ago
Shares of Manappuram Finance saw a significant 6% increase following Bain Capital's announcement to acquire an 18% stake in the gold loan provider, valued at $508 million. This investment enables Bain Capital to jointly control the company, influencing strategic decisions as management transitions. Analysts anticipate a positive re-rating of Manappuram's stock as it adapts to new management and market conditions, while the gold loan segment remains a major contributor to its revenue.
Source: YAHOO