Baring India Raises Stake in Manappuram Finance (Asia)

Source: Bombay Stock Exchange

India-focused private equity firm Baring Private Equity Partners (BPEP) India has increased its holding in Indian non-banking financial company Manappuram Finance. BPEP India purchased 10.3 million shares of Manappuram on the Bombay Stock Exchange and the National Stock Exchange, amounting to a 1.23 percent equity stake. Following the transaction, which took place in several tranches, BPEP India now holds a 7.18 percent equity stake in the company. The equity stake is being held by Baring India Private Equity Fund III Listed Investments and Baring India Private Equity Fund II. Financial details of the transaction were not disclosed.