Citigroup Global Markets India Private Ltd has submitted to the Exchange a copy of Pre-offer advertisement in accordance with Regulation 18(7) and other applicable Provisions of the SEBI (SAST) Regulations, 2011, and Subsequent amendments thereto, and corrigendum to the Detailed public statement for the attention of the public shareholders of the company.
SAMMAANCAP · price
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Citigroup Global Markets India, the manager to the offer, has submitted a Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement for the open offer to acquire up to 34.17 crore equity shares (26.05% of expanded voting share capital) of Sammaan Capital Limited. The offer is being made by Avenir Investment RSC Ltd as the acquirer together with IHC Capital Holding LLC as the person acting in concert, at a price of INR 139 per fully paid-up equity share of face value INR 2. The corrigendum clarifies certain definitions including the issuance of compulsorily convertible debentures and Tranche Warrants under the existing share subscription agreement, which are deemed to be part of the open offer. The Independent Directors Committee of Sammaan Capital has recommended the offer as fair and reasonable to public shareholders. Key financials of the target show total revenue of around INR 8,720 crore for the nine months ended December 2025 and net income of INR 1,125 crore, with EPS of INR 25.19.
This is a procedural regulatory filing ahead of the tendering period for the open offer, confirming the offer terms and incorporating clarifications to the original public statement. Public shareholders now have a clearer picture of the offer price (INR 139), size (26.05%), and the IDC's fair-and-reasonable recommendation, which typically supports smoother tendering. The stock may see trading activity as the offer moves toward the tendering window.