Abu Dhabi's International Holding Company (IHC) agreed to invest Rs 8,850 crore, or about $1 billion, for a controlling stake of about 43.5% in Indian mortgage lender Sammaan Capital, the non-bank finance company said in a stock exchange filing on 2 October 2025.
The investment will be made through IHC affiliate Avenir Investment RSC by way of a preferential allotment. It comprises equity shares issued at Rs 139 each, raising Rs 4,587 crore, and two tranches of warrants worth Rs 1,207 crore and Rs 3,055 crore. The transaction triggers an open offer for a further 26% of the company. Avenir will be classified as a promoter, take control of the company and gain the right to nominate board members.
APPROVALS REQUIRED
The deal is subject to approvals from the Reserve Bank of India and the Competition Commission of India, as well as other customary conditions. Sammaan Capital, formerly Indiabulls Housing Finance, is a mortgage lender with 220 branches across 150 towns and cities and more than 4,400 employees.
“The $1 billion investment reflects IHC’s conviction in India’s financial sector and its commitment to widening access to capital,” the Abu Dhabi-headquartered group said. IHC chief executive Syed Basar Shueb said the investment “reaffirms our commitment to supporting Sammaan Capital in its next phase of development, including the adoption of AI to enhance lending and credit solutions”.
Gagan Banga, managing director and chief executive of Sammaan Capital, said: “Becoming part of the IHC family is a milestone that will help us further strengthen our affordable housing and mid-market mortgage offerings.”