Manappuram Finance has informed that its meeting held on July 02, 2018 has authorized entering into securities purchase agreement in connection with the Company's acquisition of 85.39% of the share capital (on a fully diluted basis) of Indian School Finance Company (ISFC or Target Entity), from certain existing ISFC shareholders, and transfer restrictions agreement between the Company, Indian School Finance Company and certain continuing shareholders of the Target Entity (together Proposed Acquisition). Proposed Acquisition is subject to approval of the Reserve Bank of India and other customary conditions precedent.
The above information is a part of company’s filings submitted to BSE.
