Citigroup Global Markets India Private Limited, acting as the manager for the open offer of Sammaan Capital Limited, has provided an update on share tenders. As of April 21, 2026, no equity shares have been tendered in the dedicated escrow demat account. The offer, which seeks to acquire 26.05% of the target company’s expanded voting share capital, remains subject to validation and verification processes for all future submissions.
Open Offer Subscription Status
The manager to the open offer has confirmed that as of April 21, 2026, the number of equity shares tendered in the designated escrow account stands at Nil. This represents 0% of the total offer size. The process is being managed through the escrow demat account established with Ventura Securities Limited.
Next Steps and Validation
It is important to note that the figures disclosed represent the current status of dematerialized shares deposited into the escrow account. All shares tendered by public shareholders are subject to a rigorous validation and verification process regarding the submission of all required documentation. Shares will only be considered as ‘validly tendered’ if they comply with the terms stipulated in the Letter of Offer and subsequent addendums.
About the Acquisition
The current open offer is intended for the acquisition of up to 34,17,54,286 equity shares of Sammaan Capital Limited. This acquisition is led by Avenir Investment RSC Ltd, with IHC Capital Holding LLC acting as a person acting in concert. The acquisition encompasses 26.05% of the expanded voting share capital of the target company. Final acceptance of shares by the acquirer may vary from the initial numbers tendered based on the outcome of the verification process.
Source: BSE
