Sammaan Capital's Billion-Dollar Stake Sale to Avenir: A New Chapter in Financial Services
Sammaan Capital has secured shareholders' approval to sell a 43.46% stake to Dubai-based Avenir Investment RSC for USD 1 billion. The transaction awaits regulatory approval and marks a significant investment by Avenir in India's financial sector, promising growth for Sammaan Capital with deeper access to capital.
- Country:
- India
In a landmark financial move, Sammaan Capital announced Wednesday that its shareholders have endorsed the sale of a 43.46% stake to Dubai's Avenir Investment RSC for a striking USD 1 billion.
This development comes with an approval rate of 94.41%, securing a preferential share and warrant issue. Regulatory clearances from entities like the Reserve Bank of India remain pending, but efforts for swift approval are underway.
The investor acquisition, noted as the largest primary capital infusion into an Indian non-banking financial entity, signals a pivotal expansion for both Avenir and Sammaan Capital in the financial services sector.
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