Private Equity firm buys 5.94% in Mannapuram Finance
By Vaibhav Aggarwal
Jun 26, 2012
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Barings India Private Equity (PE) firm, Indian arm of Russian PE firm Barings Vostok Capital Partners has acquired a 5.94% stake in Kerala based NBFC Mannapuram Finance for Rs. 136 crore.

The PE firm bought 5 crore shares of the gold finance company via open market channel, Mannapuram Finance informed the Bombay Stock Exchange (BSE).

Mannapuram Finance formed in 1992 as a NBFC in Thissur Kerala mainly provides personal loans against gold to retail customers, and has a strong presence in the four southern states.

Barings India purchased the shares of the company at the day’s close price of Rs. 27.15.

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