Citigroup Global Markets India Private Limited, acting as manager, has announced an open offer for the acquisition of up to 34,17,54,286 fully paid-up equity shares of Sammaan Capital Limited, representing 26% of the expanded voting share capital. The offer is made by Avenir Investment RSC Ltd, along with IHC Capital Holding LLC, and is in compliance with SEBI regulations. The offer price is set at INR 139 per equity share.
Open Offer Details
Avenir Investment RSC Ltd, together with IHC Capital Holding LLC, has announced an open offer to acquire up to 34,17,54,286 equity shares of Sammaan Capital Limited. This represents 26% of the expanded voting share capital. Citigroup Global Markets India Private Limited is managing the offer as stated in the document dated October 16, 2025.
Offer Price and Regulations
The offer price is INR 139 per equity share. The open offer is subject to the requirements of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The public announcement for the offer was made on October 2, 2025, with a detailed public statement published on October 9, 2025.
Tendering Period
The tendering period is scheduled to commence on November 27, 2025 and close on December 10, 2025. Public shareholders of Sammaan Capital Limited are eligible to participate in this offer, according to regulatory requirements.
Purpose of the Offer
The Acquirer and PAC wish to acquire control over the Target Company and become ‘promoter’ of the Target Company. Post Offer, the Acquirer and PAC intend to boost value for its stakeholders by facilitating growth capital, strengthening the balance sheet and spearheading the next phase of growth in core segments.
Financial Arrangements
The total consideration for the Open Offer, assuming full acceptance is INR 4,750,38,45,754. Acquirer has adequate firm arrangements for funds to fulfill the payment obligations under the Open Offer
Risk factors
Please consider all outlined risk factors in the official letter of offer, as they could affect public shareholders
Source: BSE
