Sammaan Capital said it would be issuing shares and warrants worth ₹8,850 crore to IHC, on a preferential basis.
Abu Dhabi’s global investment company, IHC, said it has entered into an agreement to invest $1 billion (₹8,850 crore) in Sammaan Capital, for a 41.2 per cent stake, marking its entry into the financial services sector in India.
Sammaan Capital, (formerly known as Indiabulls Housing Finance), is a listed non-banking financial company (NBFC) focused primarily on mortgage lending. It operates through 220 branches in over 150 towns and cities, with more than 4,430 employees.
Separately, Sammaan Capital said it would be issuing shares and warrants worth ₹8,850 crore to IHC, on a preferential basis. It would issue 33 crore shares at ₹139 each and 30.67 crore convertible warrants in two tranches.
IHC, which is investing through its affiliate Avenir Investment RSC, would be making an open offer to the shareholders of Sammaan, after which it would acquire control and be classified as a promoter. Based on the response to the open offer IHC’s stake could go up to 63.4 per cent.
IHC said its investment underscored “its conviction in the long-term potential of India’s financial sector and its commitment to expanding access to capital, accelerating innovative credit solutions, and supporting inclusive growth.”
“India represents a core strategic market for us, and its long-term growth fundamentals are compelling,” said Syed Basar Shueb, CEO of IHC, in the statement.
“We have been impressed by Sammaan Capital’s leadership in enabling home ownership and empowering small businesses across the country.” The investment in the company “reaffirms our commitment to supporting Sammaan Capital in its next phase of development, including the adoption of AI to enhance lending and credit solutions, and to contributing meaningfully to India’s financial ecosystem,” he added.
The investment firm said with an increasingly formalised economy and strong regulatory oversight from the Reserve Bank of India, NBFCs in India were well positioned to advance financial inclusion and sustain India’s growth momentum.
Sammaan’s CEO and MD, Gagan Banga, said joining the IHC group would open new horizons for it.
“A promoter of the calibre of IHC is a game changer. Its a huge comfort to debt providers, rating agencies and obviously the quality of debt capital then goes up significantly,” he told businessline. “On a longer term basis, it enables a strong governance framework, which is extremely important,” he added.
He said that over time, Sammaan will get to tap into IHC’s ecosystem and technology and would be able to expand its product portfolio as well as grographical distribution.
“The first 12 to 18 months, we look to tap into the operations in the company, make ourselves more efficient and from there on, the world is ours,” he added.
Published on October 2, 2025