Avenir-led open offer for up to 26% of Sammaan Capital at Rs 139 per share
SAMMAANCAP · price
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Citigroup issued the detailed public statement for a mandatory open offer by UAE-based Avenir Investment RSC, with IHC Capital Holding acting in concert, to buy up to 34.18 crore Sammaan Capital shares at Rs 139 each, about Rs 4,750 crore, or 26% of expanded voting capital. It follows a deal giving Avenir 33 crore shares plus warrants that can lift its stake to about 48%. Shareholders vote on the preferential issue on 29 October 2025.
Public holders can tender at Rs 139, which may support the price. A new promoter with board control can improve governance, but public stake could fall.