Sammaan Capital gets open offer from Avenir, IHC for 26% stake

Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has informed stock exchanges that it has received the Letter of Offer along with an addendum related to an open offer for its public shareholders.

The open offer has been made by Avenir Investment RSC Ltd, along with IHC Capital Holding LLC acting as a person acting in concert, to acquire up to 34,17,54,286 equity shares of the company. The proposed acquisition represents 26.05% of the expanded voting share capital of Sammaan Capital.

The offer is being carried out in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Citigroup Global Markets India Private Limited has been appointed as the manager to the offer.

Under the terms of the open offer, the acquirer has proposed a cash offer of ₹139 per fully paid equity share and ₹39 per partly paid equity share, each having a face value of ₹2.

The tendering period for the offer is scheduled to begin on April 17, 2026, and close on April 30, 2026. The last date for communicating acceptance or rejection of shares tendered in the offer and completing payment of consideration is May 15, 2026.

The Letter of Offer dated April 3, 2026, along with an addendum dated April 9, 2026, contains additional disclosures related to the acquirer, the person acting in concert, the target company and the details of the open offer. Public shareholders have been advised to review the addendum together with the Letter of Offer before taking any action regarding participation in the offer.

The company has submitted the documents to both BSE and the Stock Exchange of India and requested the exchanges to take the information on record.

The open offer price has been set at ₹139 per fully paid equity share.

Also read: Sammaan Capital aims for top 3 NBFC spot by FY29 after $1 billion IHC deal

Shares of Sammaan Capital Limited/span> closed at ₹153.55 on the NSE, up ₹0.85 or 0.56%, after touching ₹153.20 during the session, reflecting a 0.33% intraday rise.