Abu Dhabi's International Holding Company Acquires Stake in Sammaan Capital

The Reserve Bank has given the green light for Avenir Investment RSC Ltd, a subsidiary of Abu Dhabi's International Holding Company, to acquire a major stake in Sammaan Capital Ltd. The deal involves a significant investment and awaits final approval from SEBI.

The Reserve Bank has sanctioned a major acquisition, with Avenir Investment RSC Ltd set to take control of Sammaan Capital Ltd. This strategic move, supported by the International Holding Company, involves a substantial infusion of Rs 8,850 crore.

This will initially secure a 41.23 per cent stake, which might rise to 63.36 per cent post-open offer completion. Regulatory clearances are nearly in place, with only SEBI's final approval pending.

In addition, the RBI has granted a waiver for the public notice period, expediting the transaction process. This acquisition signals a significant collaboration between domestic and international financial entities.