India's Sammaan Capital surges after RBI nod for $942 million Avenir deal

Shares of Sammaan Capital SMMN.NS rise 11.4% to 154.25 rupees

RBI approves Avenir Investment's proposed acquisition of controlling stake in SMMN

Avenir, owned by Abu Dhabi's International Holding Company PJSC IHC.AD, will invest around 88.5 bln rupees ($942.2 mln) via preferential issue

Avenir to hold around 41% stake in SMMN post preferential issue

Trading volume at 50.5 mln shares so far, more than 5x 30-day average

YTD, SMMN up about 6%

($1 = 93.9330 Indian rupees)