RBI approves Avenir's acquisition of Sammaan Capital
after close1 source ↓written by the desknot a recommendation
- acquisition
- 66.5% stake
- valued
- ₹7,700 cr
The Reserve Bank of India has approved Avenir Investment RSC's acquisition of a 66.5% stake in Sammaan Capital, valued at ₹7,700 cr. This marks a significant investment by a Middle Eastern entity in India's financial sector. The deal includes conditions such as a prohibition on public deposits and a one-year deadline for share transfer completion.
This acquisition may enhance investor confidence in the financial services sector, potentially impacting market dynamics.
Not investment advice. For informational purposes only.