Sammaan Capital Limited has informed the Exchange regarding 'This is further to our intimation dated October 2, 2025, with respect to the proposed acquisition of controlling stake in the Company by Avenir Investment RSC Ltd ( Investor ), which is owned and controlled by International Holding Company PJSC ( Proposed Transaction ). Pursuant to applicable provisions of the Listing Regulations, this is to update you that the Competition Commission of India ( CCI ) has approved the Proposed Transaction. A copy of the press release of the CCI is enclosed. The detailed order of CCI is awaited.The only regulatory approvals pending for consummation of the Proposed Transaction are from (a) the Securities and Exchange Board of India for the Open Offer by the Investor and other related approvals and (b) the Reserve Bank of India, for which the Company and the Investor are in active engagement with the respective regulators to ensure expeditious receipt of the approvals, towards timely completion of the Proposed Transaction.'.
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Sammaan Capital Limited informed the exchange that the Competition Commission of India (CCI) has approved the proposed acquisition of a controlling stake in the company by Avenir Investment RSC Ltd, which is owned and controlled by International Holding Company PJSC (IHC). The detailed CCI order is still awaited. This is a key regulatory milestone for the proposed transaction. The only remaining approvals needed are from SEBI (for the Open Offer and related clearances) and the Reserve Bank of India. The company and the investor are actively engaging with both regulators to complete the transaction on time.
Positive development for shareholders as CCI clearance is a significant hurdle cleared in this acquisition. Stock may see continued momentum on deal completion hopes, but final confirmation awaits SEBI and RBI approvals. Existing shareholders should watch for the mandatory Open Offer announcement once SEBI clears it, which could provide an exit opportunity at a premium.