Avenir and IHC launch open offer for Sammaan Capital at Rs 139 per share
SAMMAANCAP · price
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Avenir Investment RSC Ltd and IHC Capital Holding LLC made a cash open offer for up to 34.18 crore Sammaan Capital shares at Rs 139 each, or 26% of fully diluted voting capital. Payout could be up to Rs 4,750.38 crore. The offer follows a preferential issue of 33 crore shares plus warrants. Together with full acceptance and the first set of warrants, Avenir would hold 57.72% and become promoter, subject to approvals. No minimum acceptance applies.
Public shareholders can tender at Rs 139 per share. Avenir becoming promoter with 57.72% holding marks a control change; completion needs approvals.