IHC to acquire controlling stake in Sammaan Capital

On October 2, 2025, Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) announced its Board approved a preferential issue of equity shares and warrants to Avenir Investment RSC Ltd, an affiliate of IHC. This cash transaction involves INR 88,49,99,99,794 for 33,00,00,111 equity shares and 30,66,90,535 warrants, priced at INR 139 per share/warrant. This investment will grant IHC a 41.2% stake on a fully diluted basis, making it the largest primary capital infusion in an Indian non-bank finance company.

Following the preferential issue, IHC will trigger a mandatory open offer to acquire an additional 26.0% stake in Sammaan Capital at INR 139 per share, totaling INR 4,750 crore. Post-transaction, IHC will be classified as the promoter, with the right to appoint the majority of directors. This strategic investment aims to strengthen Sammaan Capital's financial position, enhance its credit rating, improve access to liabilities, and advance its technology and AI capabilities.

In a separate announcement on the same day, Sammaan Capital also disclosed the grant of 2,00,00,000 stock options under its ESOP Plan 2023 and 10,53,406 stock options under ESOP Plan 2013, both at an exercise price of INR 170 per share, vesting within two years from October 3, 2026. This re-grant of lapsed stock options will not alter the company's overall diluted share capital.