Sammaan Capital Limited , formerly known as Indiabulls Housing Finance Limited, has issued a corrigendum to its Extraordinary General Meeting (EGM) notice scheduled for October 29, 2025. The corrigendum addresses clarifications requested by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) regarding the company's proposed preferential issue of equity shares and warrants.

Key Details of the Preferential Issue

The company plans to raise a total of INR 8,850 crore through the preferential issue. The funds will be utilized as follows:

Utilization of Funds

Sammaan Capital intends to use the funds for various purposes, including:

1. Augmenting the company's capital base
2. Improving leverage ratio
3. Onward lending and financing business

The company plans to offer loans for:

• Housing loans to individuals
• Loans to developers for residential construction
• Corporate employee housing loans
• Secured/mortgaged backed loans to MSMEs/corporates
• Loans against property for working capital and personal/business needs
• Mortgage loans to real estate developers
• Construction finance for commercial premises

Strategic Focus

Post-completion of the preferential issue, Sammaan Capital aims to consolidate its leadership in secure retail mortgage and MSME segments through:

1. Run-down of legacy loans with steady cash collections
2. Expansion of asset-light co-lending and direct assignment models
3. Accelerated deployment of technology and AI initiatives
4. Broad geographic reach spanning 220 branches and over 4,400 employees
5. Strengthened focus on ESG goals

Shareholding Pattern

The post-preferential issue shareholding pattern will see significant changes:

An investor will acquire a 43.46% stake and become a promoter of the company post-issue.

Timeline and Utilization

The company estimates that the entire issue proceeds will be utilized for the specified objects within 12 months from the receipt of all funds. The funds will be received in one or more tranches between the date of allotment of the subscription warrants and the expiry of 18 months thereof.

Sammaan Capital has stated that any deviation in the estimation of objects (permitted up to ±10%) will be used only towards the said objects inter-se and not for general corporate purposes.

The corrigendum forms an integral part of the EGM Notice circulated to shareholders on October 7, 2025. Shareholders and other stakeholders are advised to read the EGM Notice in conjunction with this corrigendum.

Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has made significant strides in its financial strategy with two major fundraising initiatives.

$450 Million Senior Secured Social Bonds

Sammaan Capital has raised $450 million through the allotment of 7.5% Senior Secured Social Bonds due 2030. The bonds were issued under Regulation S and Rule 144A of the U.S. Securities Act, with the following allocation:

• $34.29 million allocated under Rule 144A
• $415.71 million under Regulation S

The bonds are expected to be listed on NSE IFSC Limited.

Rs 400 Crore Non-Convertible Debenture Issuance

In addition to the international bond issuance, Sammaan Capital has also raised Rs 400.00 crore through the allotment of secured, rated, listed, taxable, redeemable, non-convertible debentures (NCDs) via private placement. The issuance is split into two series:

Key Features of NCDs

• Listing: The NCDs will be listed on both the National Stock Exchange of India Limited and BSE Limited.
• Interest Payment: Interest will be paid annually, with the first payment scheduled for October 16, 2026.
• Security: The debentures are secured by hypothecation of the company's financial and non-financial assets, maintaining a minimum asset coverage of 1.1 times the principal amount and interest.

Financial Implications

These strategic moves by Sammaan Capital demonstrate its ability to attract substantial capital through various debt instruments. The successful placement of both international bonds and domestic NCDs may indicate investor confidence in the company's financial stability.

Regulatory Compliance

The NCD allotment complies with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sammaan Capital has provided detailed information about the issuance, including cash flow schedules and security details.

Market Impact

These substantial debt raisings could potentially impact the company's debt-to-equity ratio and overall financial structure. The successful placement of both international bonds and domestic NCDs may be viewed as a positive signal about Sammaan Capital's ability to access capital markets effectively on both global and domestic fronts.