Sammaan Capital's board of directors and shareholders authorised the issue of a qualified institutional placement for the total issue size of Rs 1727.5 crore, according to an exchange filing on NSE and BSE from the firm.
The floor price of the issue was Rs 151.09 per equity share. The base size was determined to be Rs 1,300 crore, according to people with knowledge of the matter. The QIP has a green shoe option of Rs 427.5 crore.
According to the sources, the indicated issue size was set at Rs 150, which represents a 7.2% discount to the current market price of the stock and its dilution is to be 13.4%. The firm has lined up DAM Capital Bankers to be the bookrunners to oversee this transaction. The QIP is expected to close on Thursday.
Sammaan Capital Ltd's board had previously authorised the fundraising of Rs 2,500 crore via the issue of equity shares through one or more qualified institutions placements, according to an exchange filing on 11 Dec. 2024.
In August, the company's board approved a resolution to raise up to Rs. 30,000 crore through the issuance of nonconvertible debentures, or "bonds not in the nature of equity shares," on a private placement basis in one or more tranches.
The fundraising period will commence upon receiving shareholders' authorisation and will remain valid for one year, according to the company.
Shares of Sammaan Capital Ltd. rose as much as 1.86% during the day to Rs 163.90 apiece on the National Stock Exchange. It closed 0.50% higher at Rs 161.71 per share, compared to a 0.07% decline in the benchmark Nifty. The share price had fallen 2.52% on a year-to-date basis.
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