Avenir triggers open offer for Sammaan Capital at Rs 139 per share
SAMMAANCAP · price
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On the reaction day the stock moved 2.1 pts less than Nifty Smallcap 250 and 2.1 pts less than its Housing Finance Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Avenir Investment RSC Ltd and IHC Capital Holding LLC, acting together, will buy up to 34.17 crore Sammaan Capital shares from the public at Rs 139 each, equal to 26% of expanded voting capital and up to Rs 4,750.38 crore. The mandatory cash offer follows a board-approved preferential issue of 33 crore shares plus warrants. Avenir plans to become promoter, subject to shareholder and regulatory approvals. No minimum acceptance applies.
Public holders can tender at Rs 139. Avenir becoming promoter could reshape strategy; completion needs shareholder and regulatory approvals.