Sammaan Capital Raises $450 Million Through Senior Secured Social Bonds and Rs 400 Crore via NCDs

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:

Particulars	Series I	Series II
Amount	Rs 200.00 crore	Rs 200.00 crore
Coupon Rate	9.30%	9.15%
Maturity Date	October 16, 2035	October 16, 2030
Tenor	10 years	5 years
Face Value per NCD	Rs 1.00 lakh	Rs 1.00 lakh
Number of Debentures	20,000	20,000

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.08%	+2.80%	+23.46%	+38.69%	+18.42%	-14.00%

Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has taken a significant step in the debt market by approving the issuance of $450 million in senior secured social bonds. This move, announced on October 9, 2025, marks a notable development for the non-banking financial company.

Key Details of the Bond Issuance

Detail	Value
Issue Size	$450.00 million
Interest Rate	7.50% per annum
Maturity	2030
Bond Type	Senior Secured Social Bonds
Listing	Expected to be listed on the Debt Securities Market of the NSE IFSC Limited

Terms and Conditions

The Securities Issuance and Investment Committee of Sammaan Capital's board of directors has approved the following terms:

Term	Detail
Settlement Date	October 16, 2025
Maturity Date	October 16, 2030
Interest Payment	Semi-annually in arrears on October 16 and April 16 until the final maturity date
Principal Payment	October 16, 2030

Purpose and Compliance

Sammaan Capital intends to use the proceeds from this issue for activities permitted under the Reserve Bank of India's guidelines for external commercial borrowings (ECB Guidelines). These activities will be in accordance with the company's sustainable financing framework, subject to compliance with applicable laws and regulations.

Subscription Agreement

In connection with the bond issuance, Sammaan Capital has executed a subscription agreement with Deutsche Bank AG, Singapore Branch, acting as the Sole Bookrunner. The agreement outlines the terms for the issuance and subscription of the bonds.

Investor Presentation

Sammaan Capital has made an investor presentation available on its website, providing additional information for potential investors interested in the bond issuance.

Implications and Outlook

This bond issuance represents a strategic move by Sammaan Capital to raise substantial funds through the international debt market. The social bond label suggests a focus on financing projects with positive social outcomes, aligning with growing investor interest in sustainable and socially responsible investments.

The successful placement of these bonds could strengthen Sammaan Capital's financial position, potentially enabling the company to expand its lending activities and support its growth objectives in the non-banking financial sector.