Under the share subscription agreement signed on 2 October 2025, Avenir will subscribe to 33 crore equity shares at Rs 139 per share and 30.66 crore warrants in two tranches at the same price. The open offer will cover up to 34.17 crore shares at Rs 139 each.
Depending on the acceptance of the open offer and exercise of warrants, Avenir together with IHC Capital Holding could hold up to 57.72% in Sammaan, establishing promoter control.
The transaction requires approvals from SEBI, RBI, the Competition Commission of India, and stock exchanges. Citigroup Global Markets India is the manager to the offer. The acquirer has clarified there is no plan to delist Sammaan Capital following the transaction.
Sammaan Capital stock had surged 25.59% in the past six consecutive sessions.
Sammaan Capital, formerly known as Indiabulls Housing Finance, is engaged in the housing finance and mortgage-backed lending business.
On a consolidated basis, the company's net profit rose 2.31% to Rs 334.30 crore on 7.74% increase in total income to Rs 2,409.43 crore in Q1 June 2025 over Q1 June 2024.
On 29 September 2025, ICICI Prudential Mutual Fund purchased 43.47 lakh equity shares, representing 0.52% of Sammaan Capital's total equity, via a bulk deal on the NSE. The shares were acquired at an average price of Rs 151.95 each, exchange data showed.
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