Sammaan Capital Limited has informed the Exchange about Classification of Avenir Investment RSC Ltd, which is owned and controlled by International Holding Company PJSC, as promoter and Appointment of Mr. Alwyn Dinesh Crasta as an Additional Non-Executive Non-Independent Director. For details refer attachment.
SAMMAANCAP · price
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International Holding Company PJSC (IHC) has completed its investment in Sammaan Capital, making Avenir Investment RSC Ltd (IHC-owned) the new promoter of the company. IHC has infused INR 5,652.75 crore so far, with total commitment of INR 8,850 crore upon full conversion of warrants, making it one of the largest FDI in the Indian NBFC sector. IHC currently holds 28.41% stake, expected to rise to 41.24% on fully diluted basis. The Board has appointed Mr. Alwyn Dinesh Crasta, Group CFO of IHC, as an Additional Non-Executive Non-Independent Director, subject to shareholder approval. RBI has approved this appointment. The company expects benefits including rating upgrades, improved borrowing costs, and access to IHC's technology and AI capabilities.
This represents a major ownership change with a well-capitalized UAE-based promoter (IHC has USD 232 billion market cap). The appointment of IHC's Group CFO to the board signals closer oversight and potential operational improvements, which could positively impact the stock given the credibility and capital backing.