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.