Mar 25: The Reserve Bank of India (RBI) has granted approval for the proposed acquisition of a controlling stake in Sammaan Capital Limited by Avenir Investment RSC Ltd. The approval also covers the indirect change in control of Sammaan Capital’s wholly owned subsidiary, Sammaan Finserve Limited.
As part of the transaction, Avenir Investment will infuse approximately ₹8,850 crore through a preferential equity issue. This investment will result in an initial stake of around 41.23%, which may increase to 63.36% following the completion of the open offer.
In a significant move to facilitate the transaction, the RBI has also granted a waiver of the public notice period, enabling faster execution of the deal.
With this key regulatory approval secured, the transaction is now pending final clearance from the Securities and Exchange Board of India (SEBI). Both parties continue to work towards completing the process in a timely manner.
