Introduction:
Leading financial firm has announced plans to raise INR 2,500 crores through Qualified Institutional Placements (QIP), adhering to SEBI regulations. The initiative aims to support growth and expansion, pending shareholder approval at an upcoming Extraordinary General Meeting.
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Share price movement of Sammaan Capital:
On December 12, 2024, Sammaan Capital Ltd opened at ₹169.75, up 1.16% from its previous close of ₹167.80. The stock reached a high of ₹169.75 and a low of ₹166.00. By 10:13 AM, it traded at ₹169.75, with a market cap of ₹12,264.59 crore.
Sammaan Capital Approves INR 2,500 Crore Fundraising:
Sammaan Capital Limited’s Board of Directors, during its meeting on December 11, 2024, approved a plan to raise INR 2,500 crores through Qualified Institutional Placements (QIP). The decision aligns with regulatory norms under SEBI and ICDR regulations.
The fundraising initiative, which may involve equity shares in foreign currencies, is subject to necessary approvals and shareholder consent. An Extraordinary General Meeting (EGM) is scheduled on January 3, 2025, to formalize shareholder approval via video conferencing.
The move reflects the company’s strategy to bolster capital for growth and expansion. The meeting commenced at 3:30 PM and concluded at 4:30 PM. Sammaan Capital aims to strengthen its financial position through this proposed equity issuance.
Recent news on Sammaan Capital:
As of November 16, 2024, Sammaan Capital reported a Q2 FY24 loss of ₹2,761 crore, compared to a ₹297.98 crore profit last year. Despite the loss, revenue increased by 8.75% YoY and 9.74% sequentially.
Stock performance of Sammaan Capital for Period of 1 week, 6 months and 1 year:
Sammaan Capital Limited experienced a 0.79% decline in the past week, but it has seen a 3.70% increase over the last six months, despite a 7.23% decrease over the past year, indicating some recovery in recent months
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Shareholding pattern of Sammaan Capital:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 0.00% | 0.00% | 0.00% |
| FII | 19.80% | 19.10% | 19.30% |
| DII | 6.50% | 6.80% | 7.20% |
| Public | 72.00% | 72.30% | 71.70% |
| Others | 2% | 1.70% | 1.70% |
About Sammaan Capital:
Sammaan Capital Ltd. (NSE: SAMMAANCAP) is a leading financial services company providing home loans, loans against property, and other financial solutions. Headquartered in New Delhi, it serves individuals, firms, and institutions for various property-related financing needs.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
