Avenir Investment RSC Ltd and IHC Capital Holding LLC have provided an update on the open offer for Sammaan Capital Limited. As of April 24, 2026, no equity shares have been tendered by public shareholders into the designated escrow account. The offer, which aims to acquire up to 34,17,54,286 shares, representing 26.05% of the expanded voting share capital, remains subject to validation and verification procedures.
Current Subscription Status
Following the initiation of the open offer process, the manager to the offer has confirmed that nil equity shares have been tendered as of the latest reporting date, April 24, 2026. This indicates that 0% of the total offer size has been subscribed to at this stage of the acquisition process.
Offer Details and Compliance
The acquisition, led by Avenir Investment RSC Ltd alongside IHC Capital Holding LLC as a person acting in concert, targets up to 34,17,54,286 equity shares. This volume represents 26.05% of the target company’s expanded voting share capital. Any shares eventually tendered by public shareholders will undergo a rigorous validation and verification process to ensure full compliance with the terms established in the previously issued letter of offer dated April 03, 2026, and its subsequent addendum dated April 09, 2026.
Future Acceptance Process
It is important to note that the final number of shares accepted by the acquirer may differ from the number of shares initially tendered. Only those shares that are “validly tendered” and meet all documentation requirements will be considered for acceptance. Shareholders are advised that the current data reflects only the dematerialized shares deposited into the escrow account as of the reporting date.
Source: BSE
