Sammaan Capital announces plans to raise up to ₹2,500 crore through QIP – CNBC TV18
Sammaan Capital Ltd has announced plans to raise up to ₹2,500 crore through the issuance of equity shares. The funds will be raised via one or more Qualified Institutional Placements (QIPs), subject to necessary approvals.
In a board meeting held on December 11, 2024, the company’s directors authorised the move, which aligns with the Securities and Exchange Board of India’s (SEBI) regulations for capital issuance. The funding will help bolster the company’s capital structure and support its ongoing operations.
Sammaan Capital plans to seek shareholder approval for the proposed equity issue at an extraordinary general meeting scheduled for January 3, 2025. The meeting will be conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM), in compliance with regulatory requirements.
The company reported a loss of ₹2,761 crore in its second quarter results. This contrasts sharply with the profit of ₹297.98 crore reported in the same quarter of the previous fiscal year. Despite this, it recorded an increased in revenue by about 8.8% year-over-year, and a growth of 9.7% compared to the previous quarter.
Sammaan Capital reported a 1% year-on-year decline in assets under management (AUM) to ₹62,928 crore in the second quarter. Disbursements stood at ₹2,224 crore, down 25% YoY. Net interest income (NII) surged 127% to ₹867 crore.
The company has a market capitalisation of about ₹10,430.57 crore, but its share price has dropped nearly 15% over the last year.
Shares of Samman Capital ended 1.4% higher on Wednesday at a price of ₹168 on BSE.
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