Avenir Investment RSC Ltd, in concert with IHC Capital Holding LLC, has launched a mandatory open offer to acquire up to 34,17,54,286 equity shares, representing 26.05% of the expanded voting share capital of Sammaan Capital Limited. The offer price is set at INR 139 per fully paid equity share and INR 39 per partly paid equity share, aiming to solidify a controlling stake in the target company.
Strategic Acquisition and Control
Following the successful allotment of 33,00,00,111 equity shares via a preferential issue on March 31, 2026, the Acquirer—Avenir Investment RSC Ltd—has triggered a mandatory open offer. This move is part of a broader underlying transaction aimed at exercising control and positioning Sammaan Capital Limited for long-term growth. The Acquirer, backed by IHC Capital Holding LLC, intends to leverage its ecosystem to link capital, technology, and value chains to drive future business expansion.
Offer Details and Pricing
The open offer is set at INR 139 for each fully paid equity share and INR 39 for each partly paid equity share. The total offer size covers up to 26.05% of the expanded voting share capital. The tendering period for shareholders is scheduled to commence on April 17, 2026, and will conclude on April 30, 2026. Payment to shareholders whose shares are accepted under the offer is expected within 10 working days from the offer closing date.
Future Roadmap and Governance
Post-acquisition, the Acquirer plans to provide the Target Company with growth capital and improved access to low-cost liabilities, aiming to enhance its credit rating and operational efficiency. The current management team is expected to continue leading operations, with the Acquirer utilizing its proposed nominee director to oversee value creation. The Acquirer has confirmed no immediate intent to delist the company, underscoring a commitment to its ongoing market presence.
Source: BSE
