Abu Dhabi’s International Holding Company (IHC) has announced a landmark investment of nearly $1 billion (₹8,850 crore) into Sammaan Capital Limited (formerly Indiabulls Housing Finance), marking one of the largest primary capital infusions by a single investor into India’s non-banking financial sector (NBFC).
The investment, through IHC’s subsidiary Avenir Investment RSC Ltd, will give the Abu Dhabi-based conglomerate a 43.46% stake in Sammaan Capital and promote it to promoter status. Under SEBI regulations, the deal will trigger a mandatory open offer for an additional 26% stake, potentially raising IHC’s ownership to between 41.2% and 63.4% on a fully diluted basis.
Deal Structure
The board of Sammaan Capital approved the preferential allotment of:
- 330 million equity shares at ₹139 per share (18% discount to market price), worth ₹4,587 crore.
- 307 million warrants, convertible into equity shares, valued at ₹4,263 crore.
The transaction will be executed in tranches, subject to shareholder and regulatory approvals from the RBI, SEBI, and CCI. Shareholder approval will be sought at an EGM scheduled for October 29.
Strategic Importance
The deal marks IHC’s entry into India’s financial services sector, reinforcing its global investment footprint. Syed Basar Shueb, CEO of IHC, said the investment reaffirms IHC’s commitment to India’s financial ecosystem and its plan to support AI-driven lending and credit innovations.
“IHC’s $1 billion investment underscores its conviction in the long-term potential of India’s financial sector and commitment to accelerating inclusive growth,” the company said.
For Sammaan Capital, this capital infusion represents a pivotal moment. “Joining the IHC Group opens new horizons for us,” said Gagan Banga, CEO and MD of Sammaan Capital, adding that the partnership will drive the company’s next growth phase with renewed energy.
Financial Snapshot
As of June 30, Sammaan Capital reported:
- Assets under management (AUM): ₹62,378 crore
- Net profit (Q1 FY26): ₹334 crore
With the IHC deal, the company expects to strengthen its balance sheet, expand access to credit, and scale up technology-driven solutions.
Summary
Abu Dhabi’s International Holding Company (IHC) will invest ₹8,850 crore ($1 billion) in Sammaan Capital, acquiring a 43.5% stake via shares and warrants at a discount. The deal triggers a mandatory open offer under SEBI rules and could raise IHC’s holding up to 63.4%. This is the largest-ever primary investment in an Indian NBFC by a single global investor, signaling IHC’s entry into India’s financial services sector. The infusion is expected to accelerate Sammaan Capital’s growth, strengthen its capital base, and boost AI-driven lending solutions.
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