The company said Reddy has sought leave starting February 25, 2026, to travel overseas for medical treatment, according to an exchange filing.
The leave is expected to last between 90 and 120 days, depending on the progress of the treatment.
Manappuram Finance has recently received final approval from the Reserve Bank of India for Bain Capital’s proposed acquisition of up to a 41.66% stake and joint control in the company.
Following the transaction, Bain Capital will be classified as a promoter and will jointly control the gold loan financier.
The RBI’s approval is subject to certain conditions. Any acquisition by the proposed investors that results in their stake exceeding 26% after one year, excluding warrant conversions, will require prior approval from the central bank.
Additionally, the investors must submit an RBI-compliant action plan to ensure they do not obtain majority control in more than one NBFC or housing finance company within their group.
Under the definitive agreements signed in March 2025, Bain Capital had committed to invest approximately ₹4,385 crore to acquire an 18% stake in Manappuram Finance on a fully diluted basis through a preferential allotment of shares at ₹236 apiece.
The investment will be made through its affiliates, BC Asia Investment XXV and BC Asia Investments XIV.
The deal will also trigger a mandatory open offer to acquire up to an additional 26% stake from public shareholders at ₹236 per share.
Post-investment, Bain Capital’s shareholding is expected to range between 18.0% and 41.7% on a fully diluted basis, while the existing promoter group is likely to hold around 28.9%.
Manappuram Finance shares ended Wednesday’s session 3.11% lower at ₹295.80. The stock has declined 6% so far in 2026.
First Published: Feb 26, 2026 7:14 AM IST