Sammaan Capital announces plans to raise up to ₹2,500 crore through QIP

Sammaan Capital Ltd has announced plans to raise up to ₹2,500 crore through equity issuance. The money will be raised through one or more Qualified Institutional Placements (QIPs), subject to necessary approvals.

At a board meeting on December 11, 2024, the company’s directors cleared the move, which is in line with Securities and Exchange Board of India (SEBI) regulations for capital issuance. The financing will help strengthen the company’s capital structure and support ongoing operations.

Sammaan Capital plans to seek shareholder approval for the proposed share issuance at an extraordinary general meeting scheduled for January 3, 2025. The meeting will be held through video conferencing (VC) and other audiovisual means (OAVM), in accordance with regulatory requirements . .

The company reported a loss of ₹2,761 crore in the second quarter results. This is in stark contrast to the profit of ₹297.98 crore reported in the same quarter of the previous fiscal year. Despite this, it recorded a revenue increase of approximately 8.8% year-on-year, and 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% year-on-year. Net interest income (NII) rose 127% to ₹867 crore.

The company has a market capitalization of around ₹10,430.57 crore, but its share price has fallen almost 15% in the past year.

Shares of Samman Capital ended Wednesday 1.4% higher at a price of ₹168 on BSE.

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