Sammaan Capital announced that the Competition Commission of India has approved the proposed acquisition of controlling stake in the company by Avenir Investment RSC (Investor), which is owned and controlled by International Holding Company PJSC (Proposed Transaction).

The only regulatory approvals pending for consummation of the Proposed Transaction are from (a) the Securities and Exchange Board of India for the Open Offer by the Investor and other related approvals and (b) the Reserve Bank of India, for which the Company and the Investor are in active engagement with the respective regulators to ensure expeditious receipt of the approvals, towards timely completion of the Proposed Transaction.