The RBI has also cleared the appointment of IHC nominee Alwyn Dinesh Crasta as a director on the company’s board for a period of up to five years.
Sammaan Capital said Avenir plans to invest ₹8,850 crore through a preferential issue.
Post the allotment, Avenir is expected to hold around 41.23% stake, which could increase to 63.36% after the preferential issue and open offer.
However, the transaction remains subject to approval from the Securities and Exchange Board of India.
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The central bank has imposed certain conditions for its approval. Sammaan Capital will not be allowed to raise public deposits. Avenir must complete the share transfer within one year, failing which the approval will stand cancelled.
Additionally, if Avenir’s shareholding falls below 26% after the transaction, it will require prior RBI approval to increase its stake to 26% or beyond.
The market capitalisation of Sammaan Capital is around ₹11,468.75 crore.
Sammaan Capital shares were banned from F&O trading on March 24, 2026. The stock settled 7.04% higher on Tuesday at ₹139.15.
First Published: Mar 25, 2026 7:21 AM IST
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