MANAPPURAM

inance shares crash 10% after RBI flags concerns over Bain Capital deal

Manappuram Finance has shared crash 10 per cent after the Reserve Bank of India has flagged concerns over Bain Capital deal. The RBI is uncomfortable with the same investor exercising control over more than one lending institution, whether it is a bank or an NBFC. In the past, private equity firms with stakes of 20 per cent or more in non-bank lenders have been forced to pare their holdings following RBI objections, news agency Reuters reported. Bain Capital considers gradual exiting of Tyger Capital Bain Capital, which announced plans to invest in Manappuram Finance in March last year, is now considering gradually exiting Tyger Capital, a smaller lender, to address the central bank’s concerns, according to people familiar with the development.