India's Manappuram Finance falls as dilution concerns offset Bain deal nod

Shares of India's Manappuram Finance MNFL.NS down 1.34%to 266.80 rupees

The Reserve Bank of India approved Bain Capital's acquisition of joint control and up to 41.66% stake in the non-bank lender on Wednesday

Jefferies ("hold", TP:285 rupees) says planned capital infusion of 43.85 billion rupees ($470.05 million) could be about 4% to 5% book value accretive but 8-9% EPS dilutive over FY2027–28

Brokerage flags near-term execution uncertainty due to new CEO's absence, says re-rating hinges on visible turnaround and strategic clarity

Stock rated "hold" on average by 15 analysts, median PT at 318 rupees, according to data compiled by LSEG

MNFL stock down 12.5%, YTD

($1 = 93.2880 Indian rupees)