Manappuram Finance up 5%, PE firm TPG eyes stake in co

Promoter VP Nandakumar along with Sushama Nandakumar hold 31.55 percent stake in the company while fund houses like Baring India Pvt Equity Fund III Listed Investments, Morgan Stanley Asia, Wellington Trust Company National Association etc have 39.53 percent stake in the company as of June 2013.

Oct 04, 2013: Manappuram Finance  is buzzing on Friday after a media report suggested that US-based private equity firm TPG is in talks with the gold loan company for buying a minority stake. The stock gained 5 percent in intraday trade. 

"TPG has made an offer for a minority stake, but with governance rights and board seat," a media report said quoting unnamed sources. 

Promoter VP Nandakumar along with Sushama Nandakumar hold 31.55 percent stake in the company while fund houses like Baring India Pvt Equity Fund III Listed Investments, Morgan Stanley Asia, Wellington Trust Company National Association etc have 39.53 percent stake in the company as of June 2013.

Courtesy: Money Control