Sammaan Capital announces IHC as promoter; IHC will acquire 41.5% stake for Rs 8,850-cr
IHC, one of the world?s largest investment companies and the most valuable listed holding company in the Middle East with a market cap approximately $32 bn, (Rs 22 lakh crore).
Through its affiliate, Avenir, IHC will acquire a 41.5% stake in Sammaan Capital via a preferential allotment of equity shares and warrants for a total transaction value of $1 billion (Rs 8,850 crore). Sammaan Capital has already received an initial tranche of Rs 5,652 crore ($600 million) towards the allotment, while the remaining Rs 3,198 crore (around $338 million) will be received within 18 months upon conversion of warrants into equity shares.
Additionally, a mandatory open offer will be launched to acquire up to 26% of the company?s expanded share capital from public shareholders, in compliance with Indian securities regulations.
Sammaan Capital aims to become one of the top three NBFCs in India in terms of assets under management (AUM) by FY2029, while achieving best-in-class return on assets (RoA) and return on equity (RoE). The company also plans to become a diversified NBFC by focusing on mid- to low-income borrowers through its expanding pan-India branch network and by offering products beyond mortgage loans, including secured and unsecured MSME loans, personal loans, business loans and gold loans.
As part of its FY29 roadmap, the company plans to expand its product portfolio to over 15 loan products, increase its branch network to more than 1,500, grow its customer base beyond 50 million and expand its workforce to over 10,000 employees.
Sammaan Capital will now form part of IHC?s newly created financial services investment platform, Judan Financial, which aims to strengthen the group?s presence across banking, insurance, asset and wealth management, capital markets, NBFCs and financial technology.
Upon completion of the transaction, IHC will be classified as a promoter and will have the right to appoint a majority of the board, enabling it to play an active role in the company?s strategic direction. As a strategic promoter, IHC brings substantial capital, global funding networks and institutional relationships that will meaningfully enhance Sammaan Capital's financial flexibility and support its growth ambitions.
Gagan Banga, managing director & CEO of Sammaan Capital Limited, said: We formally welcome IHC as our Promoter. This partnership brings long-term, growth capital and deep global capabilities ? both of which will be instrumental in helping us scale responsibly and reinforce our leadership position in the market.
Meanhwile, the company?s board will meet on 7 April 2026, inter alia, to consider and approve buyback of the dollar denominated bonds, subject to applicable laws, regulatory approvals, and terms of the respective issue documents.
Further, the company?s Asset Liability Management Committee (ALCO) has approved an offer to acquire its outstanding non-convertible debentures (NCDs). The company has invited holders of the specified ISINs to tender their NCDs at par through the stock exchange. This move is aimed at utilising surplus liquidity to optimise the company?s liability profile and strengthen its balance sheet.
Sammaan Capital (formerly known as Indiabulls Housing Finance) is engaged in the housing finance and mortgage-backed lending business.
On a consolidated basis, Sammaan Capital's net profit rose 3.85% to Rs 314.08 crore while total income increased 6.87% to Rs 2,157.87 crore in Q3 December 2025 over Q3 December 2024.
The scrip shed 0.03% to Rs 149.55 on the BSE.
