RBI approves Avenir's acquisition of Sammaan Capital
pre-market1 source ↓written by the desknot a recommendation
- 66.5% controlling stake
- valued
- ₹7,700 cr
The Reserve Bank of India has approved Avenir Investment RSC's acquisition of a 66.5% controlling stake in Sammaan Capital, valued at ₹7,700 cr. This marks a significant investment by a Middle Eastern entity in India's financial services sector.
Key conditions include a prohibition on public deposits and a one-year deadline for share transfer completion. Failure to meet these conditions could lead to cancellation of the approval.
Not investment advice. For informational purposes only.