Avenir Investment RSC Ltd has completed a major preferential allotment of shares and warrants in Sammaan Capital Limited. This strategic acquisition involves 330 million equity shares and over 306 million warrants, giving the acquirer a 43.4% stake in the company. Following this transaction, the shares and warrants are currently held in a dedicated escrow account pending the conclusion of an open offer, after which they will be transferred to the acquirer’s demat account.
Details of the Preferential Allotment
On March 31, 2026, Avenir Investment RSC Ltd finalized a significant investment in Sammaan Capital Limited. The transaction, executed through a preferential allotment, consists of 330,000,111 equity shares and 306,690,535 warrants. The shares were acquired at a price of INR 139 per share, marking a substantial expansion of the acquirer’s interest in the target company.
Strategic Ownership and Escrow Terms
As a result of this allotment, the acquirer now holds a 43.4% stake in Sammaan Capital Limited. To ensure regulatory compliance and process integrity, these shares and warrants are currently held in a separate share escrow account. These holdings will remain in escrow and will not carry voting rights until the completion of the mandatory open offer process. Upon the successful conclusion of the offer, the assets will be fully transferred to the acquirer’s demat account.
Payment and Conversion Structure
The financial arrangement dictates that 25% of the total price was paid at the time of subscription. The remaining 75% of the consideration will be payable when the warrants are exercised into equity shares. This structure ensures a phased capital infusion into the target company, with the total ownership stake calculated based on the combined volume of fully paid-up equity shares and the potential conversion of all acquired warrants into 306,690,535 equity shares.
Source: BSE
