Mumbai, Oct. 3 -- IHC, acting through affiliate Avenir Investment RSC, will invest Rs 8,850 crore via preferential equity and warrants. The deal triggered a mandatory open offer for 26% of Sammaan's capital at Rs 139 per share, valuing the offer at about Rs 4,750.38 crore on full acceptance.

Under the share subscription agreement signed on 2 October 2025, Avenir will subscribe to 33 crore equity shares at Rs 139 per share and 30.66 crore warrants in two tranches at the same price. The open offer will cover up to 34.17 crore shares at Rs 139 each.

Depending on the acceptance of the open offer and exercise of warrants, Avenir together with IHC Capital Holding could hold up to 57.72% in Sammaan, establishing promoter control.

The transact...