Sammaan Capital Limited has informed the Exchange regarding 'Please find attached the copy of the Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement received by the Company from Citigroup Global Markets India Private Limited in relation to the open offer to the public shareholders of the Company.'For details refer attached PDF.
SAMMAANCAP · price
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Avenir Investment RSC Ltd (Acquirer) along with IHC Capital Holding LLC (PAC) has initiated an open offer to acquire up to 34,17,54,286 equity shares representing 26.05% of Sammaan Capital's Expanded Voting Share Capital. The offer price is INR 139 per Fully Paid Equity Share and INR 83.40 per Partly Paid Equity Share. The offer was triggered after the Acquirer and PAC acquired shares through preferential issue and subscription transactions. The Independent Directors Committee has recommended the open offer as fair and reasonable to public shareholders. The corrigendum updates certain disclosures in the earlier Detailed Public Statement, including financial details and revised offer participation terms.
This open offer gives public shareholders an opportunity to exit at INR 139 per share. The offer reaching its full 26.05% target would significantly increase the Acquirer's stake in the company, potentially changing ownership dynamics. Shareholders should carefully evaluate whether to tender based on the IDC's recommendation of fairness and reasonableness.