In today’s briefing:
- Sammaan Capital: Can Capital Boost from Abu Dhabi Turnaround Its Fortunes?
Sammaan Capital: Can Capital Boost from Abu Dhabi Turnaround Its Fortunes?
- Sammaan Capital approved a 3-part preferential issue to Avenir, part of Abu Dhabi’s sovereign-controlled IHC, aggregating INR 8,850 crore (USD 1.06 billion) in equity and warrants (convertible in 18 months)
- Sammaan has been looking out for an equity partner for few quarters now. Avenir’s backing not just improves capital positioning but also helps restructure overall liability side of the business
- Upon consummation (80% probability), we anticipate material re-rating potential. However, there are multiple risks in the near term, including accelerated write-offs. Further, an ongoing litigation may jeopardize the deal itself.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
