The conversion has infused ₹905.86 crore fresh capital into the company, representing 75 per cent of the subscription amount for warrants
| Photo Credit:
lakshmiprasad S
International Holding Company PJSC’s special purpose vehicle, Avenir Investment RSC, on Friday converted 8.69 crore warrants into an equivalent number of Sammaan Capital equity shares, increasing the promoter’s stake by nearly five per cent.
IHC’s stake in the company rose to 33.32 per cent from 28.34 per cent earlier, according to an exchange filing.
The company allotted 8.69 crore fully paid-up equity shares to Avenir Investment at an issue price of ₹139 per share.
The conversion infused ₹905.86 crore fresh capital into the company, representing 75 per cent of the subscription amount for warrants. The promoter paid the initial 25 per cent at the time of allotment of the warrants in March 2026.
The total issue consideration for the 8.69 crore warrants is ₹1,207.81 crore. Twenty-five per cent was paid upfront, and the company has now received the balance.
Following the conversion, Avenir Investment will continue to hold 21.98 crore outstanding warrants, which it can convert into equity shares in one or more tranches by September 30, 2027, within 18 months of their allotment on March 31, 2026.
If all the remaining warrants are converted, the promoter’s shareholding in Sammaan Capital will increase to 43.28 per cent, assuming no other change in the company’s share capital.
The company said equity shares so allotted shall rank pari passu with the existing equity shares in all respects and will be listed on the BSE and the NSE in accordance with applicable law.
The Sammaan Capital scrip closed 3.63 per cent down at ₹116.8 apiece on the BSE on Friday against gains of 0.42 per cent on the benchmark.
Published on October 31, 2026
