Sammaan Capital Limited (formerly Indiabulls HFL) confirms receipt of all necessary regulatory approvals for the acquisition of a controlling stake by Avenir Investment RSC Ltd. This includes final SEBI clearances for the change of control in its subsidiary, SAML. The transaction, involving a preferential issue to Avenir, is now set to conclude soon. The Investor is set to acquire a stake of 41.2% post-preferential issue, potentially rising to 63.3% after the Open Offer.
Completion of Acquisition Approvals
Sammaan Capital Limited announced on March 27, 2026, that it has secured all requisite regulatory clearances to proceed with the acquisition of a controlling stake by Avenir Investment RSC Ltd (“Investor”). This landmark transaction involves the Investor, which is owned by International Holding Company PJSC, concluding the Proposed Transaction at the earliest opportunity.
Final SEBI Clearances Secured
Key to concluding the deal was the approval received from the Securities and Exchange Board of India (SEBI). This final approval covers the applications made by Sammaan Asset Management Limited (SAML), a wholly owned subsidiary, concerning the indirect change of control under the Portfolio Managers and Alternative Investment Funds Regulations. Previously, the Company had secured approvals from shareholders, lenders, the Competition Commission of India, and the Reserve Bank of India.
Investment Structure and Stake Post-Transaction
The transaction will be completed via a preferential issue for an aggregate investment of approximately INR 8,849,99,99,794/- (Eight Thousand Eight Hundred and Forty-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Seven Hundred and Ninety-Four only).
- Upon completion of the preferential issue, the Investor is projected to hold approximately 41.2% of the paid-up equity share capital.
- Assuming full uptake in the subsequent Open Offer, the Investor’s total holding is expected to reach approximately 63.3% of the paid-up equity share capital.
The Company confirmed that the terms of the share subscription agreement, originally dated October 2, 2025, will govern the consummation of the Proposed Transaction.
Source: BSE
