Bain Capital is an active private equity investor in Indian financial services. Its India holdings have included Axis Bank, 360 One Wealth and Asset Management and L&T Finance Holdings, and in 2025 it agreed to acquire joint control of Manappuram Finance.
Ownership and structure
Bain Capital invests in India from its global funds through offshore affiliates such as BC Asia Investments, advised by a Mumbai office opened in 2008.
What India does for Bain Capital
India is a private equity market for Bain Capital, with large positions in financial services companies such as Axis Bank, 360 One Wealth and Asset Management, L&T Finance Holdings and Manappuram Finance.
Investment and deals
In March 2025 Bain Capital agreed to invest about Rs 4,385 crore for an 18 percent stake in Manappuram Finance, with an open offer for a further 26 percent. In 2017 its affiliates invested more than 1 billion dollars in Axis Bank.
Bain Capital's India business
In 2025 Bain Capital agreed to invest about Rs 4,385 crore for an 18 percent stake in Manappuram Finance, alongside an open offer for a further 26 percent. Its India financial services investments include Axis Bank, 360 One Wealth and Asset Management and L&T Finance Holdings.
Bain Capital operates 25 offices on four continents.
Key moves in India
- 2008: Bain Capital opened its India office.
- 2010: Bain Capital made its first Indian deal in January, buying 15.4 percent of Himadri Chemicals and Industries.
- 2017: Bain Capital affiliates agreed in November to invest more than 1 billion dollars in Axis Bank.
- 2025: Bain Capital agreed in March to invest about Rs 4,385 crore for 18 percent of Manappuram Finance and joint control with its promoters.
Where it operates
Bain Capital runs its India business from Mumbai.
At a glance
- Home country: United States
- Global headquarters: Boston
- Sector: Private Equity & Investments
- Business: Private equity
- Role of India: Investment portfolio
- India head office: Mumbai
- India offices: Mumbai
- India headcount: Not available
- In India since: 2008
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