Sammaan Capital’s share price edged higher on Wednesday, December 10, after the company announced that the Competition Commission of India (CCI) has approved the proposed acquisition of a controlling stake by Avenir Investment RSC, an entity owned and controlled by International Holding Company PJSC.
The company said the approval marks a key step toward completing the transaction. With the CCI’s clearance in place, only two regulatory approvals remain pending — one from the Securities and Exchange Board of India (SEBI) for the Investor’s open offer and related permissions, and another from the Reserve Bank of India (RBI).
Sammaan Capital also confirmed that it is working closely with both regulators to ensure “expeditious receipt of the approvals” and enable the timely consummation of the proposed acquisition.
Shares of Sammaan Capital were trading at Rs 145.70, up 2.90%, in Wednesday’s early trade.
