IHC will acquire over 43% stake in Sammaan Capital. (Photo Source: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Competition Commission of India on Tuesday gave its nod to Avenir Investment RSC, an affiliate of Abu Dhabi-based International Holding Company, to acquire Sammaan Capital Ltd.

IHC in October agreed to acquire a 43.46% stake in non-banking financial company Sammaan Capital for $1 billion or Rs 8,850 crore.

The NBFC, formerly known as Indiabulls Housing Finance, will be raising the capital by issuing preferential shares to Avenir after getting requisite approval. The investment will see IHC emerge as the new promoter of Sammaan Capital.

The deal will lead to significant equity dilution for existing shareholders, from 98.25% to 57.74%.

Deals bey

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