Manappuram Finance's recent open offer has failed to attract any investors, according to Kotak Mahindra Capital, indicating a lack of interest in purchasing shares from the company at the current offering price.

Manappuram Finance has launched an open offer to acquire a 26% stake worth approximately Rs. 6,063 crore at a price of Rs. 236 per share, including interest. The independent directors have deemed this offer as fair.

Manappuram Finance aims to borrow INR 7,400 crore by the end of FY27 for expansion of its loan portfolio and subsidiaries. Despite a 8% decline in revenue year-on-year in Q3 FY26 and a drop in net profit to INR 239 crore, shares are trading at INR 258, with a high PE ratio of 53.5.

Manappuram Finance has approved a Rs. 7,400 crore borrowing plan for the upcoming fiscal year 2026-27, which includes Non-Convertible Debentures (NCDs). The company intends to invest a significant portion of this, approximately Rs. 7,905 crore, in Asirvad Micro Finance and an additional Rs. 150 crore in Home Finance.