Sammaan Capital Limited has formally entered a new era of ownership following the completion of International Holding Company PJSC's (IHC) investment and mandatory open offer. At a Board meeting held on May 15, 2026, the company classified Avenir Investment RSC Ltd — owned and controlled by IHC — as its promoter and controlling shareholder, and approved the appointment of a new Promoter Nominee Director to the Board. The total investment by IHC is set to aggregate to INR 8,850 Crore upon full exercise and conversion of Subscription Warrants, making it one of the largest foreign direct investments and equity infusions in the Indian NBFC sector.

IHC Becomes Promoter Following Open Offer Completion

The mandatory open offer, conducted in accordance with Regulation 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, was completed on May 14, 2026. Consequently, Avenir Investment RSC Ltd acquired control of Sammaan Capital and was classified as its promoter with effect from May 15, 2026, in accordance with the share subscription agreement executed between the company and the Investor on October 2, 2025. IHC is described as one of the world's largest listed investment companies, with a market capitalisation of approximately USD 232 billion and total assets of USD 117 billion, and a presence across 100+ countries. India is noted as one of IHC's top two global strategic markets, with Sammaan Capital serving as the anchor of Avalora Holdings — IHC's dedicated international financial services platform — reflecting IHC's long-term commitment to India and to Sammaan Capital as its flagship Indian financial services investment.

Investment Structure and Shareholding Details

Pursuant to the preferential issue approved by shareholders and regulatory authorities, IHC has infused an aggregate amount of INR 5,652.75 Crore towards subscription to Equity Shares and Subscription Warrants of the Company. The following table summarises the key components of the investment structure:

Out of the total amount infused, INR 1,065.75 Crore — representing 25% of the aggregate consideration payable towards Subscription Warrants aggregating to INR 4,263 Crore — has been received upfront in accordance with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The balance amount of INR 3,197.25 Crore, being the remaining 75% consideration towards the Subscription Warrants, shall be payable at the time of exercise and conversion of the Subscription Warrants into Equity Shares. The Subscription Warrants are required to be exercised within a period of 18 months from the date of allotment, i.e., on or before September 30, 2027. Following completion of the preferential allotment and the open offer, IHC currently holds 28.41% of the equity share capital of the Company, which is expected to increase to 41.24% on a fully diluted basis upon full exercise and conversion of the Subscription Warrants.

Strategic Benefits of IHC Association

The company outlined five key areas where the IHC association is expected to deliver value:

• Capital depth and credibility: IHC's scale provides financial backing, and the company has already received rating upgrades from two rating agencies, with others slated to review ratings.
• Operational expertise: Sammaan Capital's teams are engaged with subject matter experts from across the IHC Group in areas including IT, AI, risk management, credit, and finance.
• Brand and market perception: Shared branding as an IHC Group Company, combined with improved ratings, is expected to result in compression in borrowing rates.
• Corporate governance: IHC's investment is expected to further strengthen the company's commitment to the highest standards of corporate governance and institutional best practices.
• Technology and AI ecosystem: IHC's diversified technology ecosystem with artificial intelligence capabilities is expected to support innovation, operational efficiencies, and long-term strategic growth.

New Director Appointed to the Board

The Board also approved the appointment of Mr. Alwyn Dinesh Crasta (DIN: 06993693) as an Additional Non-Executive Non-Independent Director, effective May 15, 2026, subject to shareholder approval. The appointment follows a recommendation by the Nomination and Remuneration Committee and approval from the Reserve Bank of India vide its letter dated March 24, 2026. The following table summarises the key details of the appointment:

Mr. Crasta is a highly experienced financial executive with more than 25 years of experience across supply chain, agriculture, financial services, fast moving consumer goods, and investment sectors. He has served as Group CFO at International Holding Company (PJSC), Abu Dhabi, since March 2018, overseeing financial operations and investments across a diverse portfolio, and is actively involved in directing new investments, governance, and complex mergers and acquisitions.

Regulatory Disclosures

The intimations were made pursuant to Regulations 30 and 51 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This development is further to a series of prior intimations dated October 2, 2025, October 29, 2025, November 7, 2025, December 10, 2025, March 24, 2026, March 27, 2026, and March 31, 2026, with respect to the acquisition of controlling stake in the company by Avenir Investment RSC Ltd. The communication was signed by Amit Kumar Jain, Company Secretary, on May 15, 2026.

Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has certified the timely payment of interest on its Secured Redeemable Non-Convertible Debentures (NCDs) — covering both public issue and private placement series listed on stock exchanges. The certification, issued on 09/05/2026, is in compliance with Regulation 57 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the details have been furnished as per SEBI Master Circular Ref. No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2025/0000000103 dated July 11, 2025.

Interest Payment Details — Public Issue NCDs

The company confirmed that the entire interest amount due has been paid across seven NCD series issued through public issue. All payments were made on a monthly frequency, with the interest payment record date of 24/04/2026, a due date of 09/05/2026, and an actual payment date of 08/05/2026 — one day ahead of the scheduled due date. The date of the last interest payment for all series was 09/04/2026, and no changes in payment frequency were reported. The following table provides a detailed breakdown of the interest payments made:

Interest Payment Details — Private Placement NCDs

In addition to the public issue series, Sammaan Capital also certified timely interest payment on an NCD series issued on a private placement basis. This series similarly recorded an actual payment date of 08/05/2026, ahead of the due date of 09/05/2026, with a record date of 24/04/2026 and the last interest payment date of 09/04/2026. No changes in payment frequency or reasons for delay were reported for this series. The details are as follows:

Compliance and Redemption Status

The company confirmed that no changes were made to the frequency of interest payments across any of the eight NCD series, and no reasons for non-payment or delay were applicable. With respect to redemption, the company indicated that no redemption payments were due at this time. The certification was submitted to both the National Stock Exchange of India Limited and BSE Limited, and was digitally signed by Amit Jain, Company Secretary of Sammaan Capital Limited, on 09/05/2026.