Global private equity powerhouse Bain Capital has received clearance from the Competition Commission of India (CCI) to acquire a significant equity stake in Manappuram Finance Ltd (MFL) and its subsidiary, Manappuram Asset Finance Ltd (MAFL). The investment, valued at Rs 4,385 crore, is set to be executed in multiple phases, including preferential allotments, warrants, and a mandatory open offer. This strategic transaction marks Bain Capital’s deepening commitment to India’s non-banking financial services sector, particularly in gold and MSME lending.