Sammaan Capital Limited has announced the final results of its cash tender offer with respect to its outstanding U.S.$450,000,000 7.5% Senior Secured Social Bonds due 2030. The announcement, made on May 5, 2026, confirms the completion of the previously announced offer to purchase Bonds in an aggregate principal amount up to U.S.$45,000,000 — referred to as the Maximum Purchase Amount — on the terms and subject to the conditions set forth in the Tender Offer Memorandum dated April 7, 2026.

Tender Offer Completion and Key Details

The Expiration Time of the Tender Offer occurred at 5:00 P.M., Central European Time, on May 5, 2026. As the full Maximum Purchase Amount of U.S.$45,000,000 had already been accepted for purchase on the early acceptance date of April 21, 2026, the company confirmed it would not be accepting any additional Bonds tendered at or prior to the Expiration Time but after the Early Tender Deadline of 5:00 P.M., Central European Time, on April 20, 2026. Any such Tendered Bonds will be returned to the respective Holders and will not be cancelled.

The following table summarises the key parameters of the completed Tender Offer:

Payment and Settlement

As of May 5, 2026, the Tender Offer has been consummated. The company paid a total of U.S.$45,074,999.97 in connection with the Tender Offer. This total comprised:

• The Early Tender Offer Consideration of U.S.$1,000 per U.S.$1,000 principal amount of the Bonds
• Accrued and unpaid interest and additional amounts, in cash, with respect to U.S.$45,000,000 in aggregate principal amount of the Bonds validly tendered at or prior to the Early Tender Deadline and accepted for purchase on April 21, 2026

Following the consummation of the Tender Offer, the aggregate principal amount of Bonds remaining outstanding is U.S.$405,000,000. Any Bonds not accepted for purchase or not validly tendered will remain outstanding and continue to accrue interest in accordance with their terms.

Regulatory and Distribution Restrictions

The Tender Offer was made solely pursuant to the Tender Offer Memorandum and is subject to offer and distribution restrictions across multiple jurisdictions. Notably, residents of India are not permitted to acquire and hold the Bonds, and accordingly the Tender Offer was not made, directly or indirectly, in India or to residents of India. Similar restrictions apply in the United Kingdom, Singapore, Hong Kong, and the People's Republic of China, in accordance with the respective securities laws of each jurisdiction.

Intermediaries

The Information and Tender Agent for the Tender Offer is D.F. King Ltd., a business name of MUFG Corporate Markets IR Pty Ltd, with offices in London and Hong Kong. The Dealer Manager for the Tender Offer is Deutsche Bank AG, Singapore Branch. Electronic copies of all documents related to the Tender Offer are available via the Tender Offer Website at https://clients.dfkingltd.com/sammaancapital until the consummation or termination of the Tender Offer.

Holders are advised to read carefully the Tender Offer Memorandum, available on the Tender Offer Website, for full details of and information on the Tender Offer.

Sammaan Capital Limited's ongoing open offer by Avenir Investment RSC Ltd has received a modest response with 41,110 equity shares tendered as of April 30, 2026. The acquisition attempt, conducted under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, aims to secure a significant stake in the target company.

Open Offer Details

The open offer seeks to acquire up to 34,17,54,286 equity shares of face value INR 2 each, representing 26.05% of Sammaan Capital Limited's expanded voting share capital. Avenir Investment RSC Ltd is conducting this acquisition together with IHC Capital Holding LLC, which is acting as a person acting in concert with the acquirer.

Tendering Status and Process

As per the open offer escrow demat account statement received by the manager on April 30, 2026, a total of 41,110 equity shares have been tendered, constituting merely 0.01% of the total offer size. Notably, no equity shares were tendered specifically on April 30, 2026.

The tendered shares are held in the "MIPL SAMMAAN CAPITAL LTD OPEN OFFER ESCROW DEMAT ACCOUNT" opened with Ventura Securities Limited. The account bears depository participant identification number IN303116 and client identification number 15728188.

Validation and Acceptance Process

Citigroup Global Markets India Private Limited, serving as the manager to the open offer, has clarified that all tendered equity shares remain subject to validation and verification processes. The shares must be accompanied by a complete set of required documents as applicable under the regulations.

Key Process Points:

• Tendered shares reflect dematerialized equity shares in the escrow account
• All submissions require validation and document verification
• Final acceptance will follow SEBI SAST Regulations guidelines
• Letter of offer dated April 03, 2026, and addendum dated April 09, 2026, govern the process

Regulatory Framework

The open offer operates under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. The regulatory framework ensures proper disclosure and transparency throughout the acquisition process, protecting the interests of public shareholders while facilitating legitimate corporate restructuring activities.