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Sammaan Capital Ltd ( (IN:SAMMAANCAP) ) has issued an announcement.
Sammaan Capital Limited’s board has approved a significant preferential issue of equity shares and warrants to Avenir Investment RSC Ltd, totaling approximately INR 88.5 billion. This strategic move, subject to shareholder and regulatory approvals, will see Avenir Investment acquiring control and being classified as a promoter of the company. The board also approved amendments to the Articles of Association to grant specific rights to Avenir and has scheduled an extraordinary general meeting to seek shareholder approval for these changes. This development is poised to strengthen Sammaan Capital’s financial position and potentially alter its market dynamics.
More about Sammaan Capital Ltd
Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, operates in the financial services industry. The company primarily focuses on providing housing finance solutions and is headquartered in Gurgaon, Haryana, India.
Average Trading Volume: 1,328,866
Technical Sentiment Signal: Buy
Current Market Cap: 141B INR
Learn more about SAMMAANCAP stock on TipRanks’ Stock Analysis page.