Mar 28: Sammaan Capital Limited is pleased to announce that all regulatory approvals have now been received in connection with the proposed acquisition of a controlling stake in the Company by Avenir Investment RSC Ltd (“Investor”), which is owned and controlled by International Holding Company PJSC (“Proposed Transaction”). The Company and the Investor are now engaged to conclude the Proposed Transaction at the earliest.
Pursuant to applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the Securities and Exchange Board of India (“SEBI”) has approved the applications made by Sammaan Asset Management Limited (“SAML”), a wholly-owned subsidiary of the Company, under the SEBI (Portfolio Managers) Regulations, 2020 and the SEBI (Alternative Investment Funds) Regulations, 2012, in respect of the indirect change of control of SAML pursuant to the Proposed Transaction.
Earlier, the Company had obtained requisite approvals from shareholders, lenders/creditors, stock exchanges, the Competition Commission of India, and the Reserve Bank of India. With SEBI approvals now in place, all regulatory approvals necessary for the consummation of the Proposed Transaction have been secured. The Proposed Transaction will be effected in accordance with the terms of the Share Subscription Agreement dated October 2, 2025, executed between the Company and the Investor.
Under the Proposed Transaction, the Investor proposes to invest approximately INR 8,849,99,99,794/- (Indian Rupees Eight Thousand Eight Hundred Forty-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Seven Hundred Ninety-Four only) by way of a preferential issue.
Upon completion of the preferential issue, the Investor will hold approximately 41.2% of the paid-up equity share capital of the Company. Further, upon completion of the preferential issue and the open offer, assuming full uptake in the open offer, the Investor is expected to hold approximately 63.3% of the paid-up equity share capital of the Company.
This intimation is made under Regulations 30 and 51 of the Listing Regulations and is in continuation of our earlier intimations dated October 2, 2025, October 29, 2025, November 7, 2025, December 10, 2025, and March 24, 2026.
