Avenir Investment RSC Ltd has Submitted to the Exchange a copy of Disclosure under Regulation 18 (6) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Avenir Investment RSC Ltd, a UAE-based acquirer, has completed a preferential allotment from Sammaan Capital Limited on March 31, 2026. The company issued 33 crore equity shares and 30.67 crore warrants (Tranche I and II) at INR 139 per share. Before this transaction, the acquirer held nil shares in the target company. After the allotment, the acquirer holds 63.67 crore equity shares representing 43.4% of Sammaan Capital's total share capital (assuming full conversion of warrants). Voting rights on these shares and warrants are suspended until the open offer is completed, and the securities are held in a demat escrow account as required under SEBI SAST regulations.
The acquirer has acquired a 43.4% stake in Sammaan Capital through this preferential issue, which is part of a larger open offer process. Until the open offer completes, the acquirer cannot exercise voting rights, limiting immediate shareholder influence despite the large shareholding.