Citigroup Global Markets India Private Ltd has submitted to the Exchange a copy of PUBLIC ANNOUNCEMENT FOR THE ATTENTION OF THE PUBLIC SHAREHOLDERS OF SAMMAAN CAPITAL LIMITED UNDER REGULATIONS 3(1) AND 4 READ WITH REGULATIONS 13(1), 13(2)(g), 14 AND 15(1) AND OTHER APPLICABLE PROVISIONS OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED
SAMMAANCAP · price
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Citigroup Global Markets India Private Ltd has filed a public announcement addressed to the public shareholders of Sammaan Capital Limited under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. The filing is made under Regulations 3(1) and 4 read with Regulations 13(1), 13(2)(g), 14 and 15(1), which are the provisions that govern acquisitions crossing the trigger threshold and the consequent open offer obligation. This indicates that an acquirer (along with persons acting in concert) has crossed the shareholding/voting rights threshold, requiring them to make a mandatory open offer to public shareholders. The detailed terms of the offer, including price, quantity, and timeline, would follow in the detailed public statement and letter of offer as prescribed under the takeover code.
Shareholders of Sammaan Capital should expect a mandatory open offer from the acquirer group at a SEBI-determined price, which could create a short-term floor or arbitrage opportunity depending on the offer price relative to market price. The stock may see increased volatility and trading volumes around the offer window, and existing investors should watch for the detailed letter of offer for exit opportunity.