Avenir Investment RSC Ltd, the promoter of Sammaan Capital, has successfully converted 86.89 crore warrants into equity shares for approximately ₹905.85 crore, significantly increasing its stake in the company. According to the latest regulatory filing, the Securities Issuance and Investment Committee approved the allotment of 86.89 crore fully paid-up equity shares to Avenir at an issue price of ₹139 per share on October 30, 2026, following payment of the remaining 75 per cent of the subscription amount for the warrants. The conversion involved Tranche I Warrants that were originally allotted on March 31, 2026, through a preferential issue on a private placement basis, with each warrant carrying the right to subscribe to one fully paid-up equity share with a face value of ₹2. As per the latest reports, the shares were priced at ₹139 per share, with the total consideration paid being approximately $95.4 million.
The warrant conversion has increased Avenir's stake in Sammaan Capital from 28.34 per cent to 33.32 per cent, representing a 4.98 percentage point increase. Following the conversion, Avenir continues to hold 21.99 crore warrants, which may be exercised in one or more tranches on or before September 30, 2027. If all the remaining warrants are converted and there is no other change in the company's share capital, the promoter's stake would rise to 43.28 per cent. The promoter had originally been allotted 86.89 crore warrants on March 31, 2026, through a preferential issue on a private placement basis, with each warrant carrying the right to subscribe to one fully paid-up equity share with a face value of ₹2.
The allotment has increased Sammaan Capital's paid-up equity share capital to approximately ₹2,498.89 crore, comprising 124.84 crore fully paid-up equity shares and 30.13 lakh partly paid-up equity shares. The newly allotted shares will rank pari passu with the company's existing equity shares and will be listed on the BSE Limited and the National Stock Exchange of India Limited, subject to applicable laws. The conversion represents a significant capital restructuring for the company, with the promoter's increased stake reflecting its continued commitment to the business.
