Sammaan Capital receives regulatory approvals for investment from Avenir Investment RSC

Sammaan Capital announced that  all regulatory approvals have now been received with respect to the proposed acquisition of controlling stake in Sammaan Capital by Avenir Investment RSC (Investor), which is owned and controlled by International Holding Company PJSC (proposed transaction). The Company and the Investor are now engaged to conclude the proposed transaction at the earliest.

Pursuant to the proposed transaction, the Investor proposes to invest an aggregate amount of approximately Rs 8,849.99 crore by way of the preferential issue. Upon completion of the preferential issue, the Investor shall hold approximately 41.2% of the paid-up equity share capital of the Company. Further, upon completion of the preferential issue and the open offer, and assuming full uptake in the open offer, the Investor shall hold approximately 63.3% of the paid-up equity share capital of the Company.

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