Sammaan Capital has announced an addendum to the Draft Letter of Offer (DLoF) and Detailed Public Statement (DPS) regarding the open offer to its public shareholders. The January 14, 2026, corrigendum addresses revisions related to the open offer managed by Citigroup Global Markets India Private Limited. The company has requested that the exchange records be updated accordingly.
Open Offer Corrigendum
Sammaan Capital Limited has issued an addendum to its Draft Letter of Offer (DLoF) and Detailed Public Statement (DPS) concerning the open offer for its public shareholders. The Corrigendum, dated January 14, 2026, was received from Citigroup Global Markets India Private Limited.
Details of the Open Offer
The open offer aims to acquire up to 34,17,54,286 fully paid-up equity shares, each with a face value of INR 2. This represents 26% of the expanded voting share capital of Sammaan Capital Limited. The offer is from the public shareholders of the Target Company, made by Avenir Investment RSC Ltd, along with IHC Capital Holding LLC as a person acting in concert.
Published Details
The Addendum cum Corrigendum to the DLoF and DPS was published in the Financial Express on January 15, 2026 (all editions except Ahmedabad) and on January 16, 2026 (Ahmedabad edition). It was also published in Jansatta and Navshakti on January 15, 2026.
Summary of Changes
The table below outlines changes in Equity Share Capital.
| October 2, 2025 | January 14, 2026 | |
| Expanded Voting Share Capital | 1,31,44,39,561 | 1,31,44,39,561 |
| Number of Equity Shares | 13,144,39,561 | 13,144,39,561 |
| Acquisition Size | ||
| Maximum Equity Shares | 34,17,54,286 | 34,17,54,286 |
| % of Expanded Share Capital | 26.00% | 26.00% |
| Offer Price | ||
| Offer Price (INR) | 19.04 | 19.04 |
| Consideration Payable | ||
| Maximum Consideration (INR) | 650,69,901,654.40 | 650,69,901,654.40 |
Financial Impact
The table below details the consideration concerning the open offer.
| Particulars | October 2, 2025 | January 14, 2026 |
| Funds Available with Acquirer | ||
| Balance in Escrow Account (INR) | 239,50,757 | 239,50,757 |
| Maximum Consideration (INR) | 65,06,99,01,654 | 65,06,99,01,654 |
| Maximum funds to be brought in (INR) | 64,83,03,94,100 | 64,83,03,94,100 |
| Source of Funds | ||
| Funds available with Avenir Investment RSC Ltd (INR) | 50,69,90,16,544 | 50,69,90,16,544 |
| Funds available with IHC Capital Holding LLC (INR) | 14,13,13,77,556 | 14,13,13,77,556 |
| Commitment from Financially Capable Entities (INR) | 0 | 0 |
| Total Funds Available (INR) | 65,06,99,01,654 | 65,06,99,01,654 |
Source: BSE
