Sammaan Capital shares jumped over 6% in Thursday's trading session amid a mega rally in the Indian stock market following US midterm elections results. According to reports from Hindustan Times, the stock opened at ₹129 per share on NSE today, compared to the previous close of ₹125.98 on Wednesday and touched an intraday high of ₹136.50 on 5 November. The strong performance came as Indian equity markets opened Thursday's session on a strong note, with the Sensex climbing 1,609.54 points, or 2.08%, to 78,910.94, while the Nifty 50 advanced 417.45 points, or 1.74%, to 24,378.05.
The rally also reflected an improvement in global investor sentiment following the November 2026 US midterm elections. As reported by Hindustan Times, the Democratic Party secured control of both the Senate and the House of Representatives, marking a significant political setback for US President Donald Trump's administration. This development boosted market sentiment globally and contributed to the positive momentum in Indian equity markets.
In a significant development, Avenir Investment RSC Ltd successfully completed the conversion of 8,68,92,966 equity shares through the exercise of Tranche I Warrants on October 30, 2026. According to the latest disclosure, this conversion increased the promoter's direct voting shareholding from 28.34% to 33.32%, while reducing warrant holdings from 26.34% to 17.56% of the pre-acquisition capital base. The transaction was executed within 26 weeks of the open offer expiry and was completed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total diluted shareholding percentage remained unchanged at 41.24%, confirming that the conversion was purely a structural change from convertible instruments to fully paid-up equity shares.
Following the latest conversion, Avenir Investment will continue to hold 21.97 crore outstanding warrants that can be converted into equity shares in one or more tranches by September 30, 2027, within 18 months of their allotment on March 31, 2026. As reported by Hindustan Times, if all outstanding warrants are converted, Avenir Investment's shareholding in Sammaan Capital could rise to 43.28%, assuming no other changes in the company's share capital. The newly allotted equity shares will rank pari passu with existing equity shares and will be listed on BSE and NSE subject to applicable laws and regulations.
