Abu Dhabi-based International Holding Company (IHC) is set to acquire a significant 43.5% stake in Indian financial services firm Sammaan Capital through a ₹8,850 crore deal. This strategic move marks a major development in the Indian financial services sector, bringing global backing to Sammaan Capital.

Deal Structure

The transaction involves a two-part securities issuance by Sammaan Capital:

1. Equity Shares: 33,00,00,111 fully paid-up equity shares at ₹139.00 per share, totaling ₹4,587.00 crore.
2. Warrants:
   • Tranche I: 8,68,92,966 warrants at ₹139.00 per warrant, amounting to ₹1,207.81 crore.
   • Tranche II: 21,97,97,569 warrants at ₹139.00 per warrant, totaling ₹3,055.19 crore.

Each warrant carries the right to subscribe to one equity share of Sammaan Capital.

Strategic Implications

• New Promoter: Upon completion, IHC will become the new promoter of Sammaan Capital, signaling a shift in the company's ownership structure.
• Global Backing: The partnership is expected to provide Sammaan Capital with strong global support, potentially opening doors to international markets and resources.
• Expansion Plans: The board anticipates that this collaboration will enable expansion in key areas such as asset management, financial services, and fintech.

Regulatory Processes

• Open Offer: In compliance with SEBI regulations, IHC will be required to make a mandatory open offer to the existing public shareholders of Sammaan Capital.
• Shareholder Approval: An Extraordinary General Meeting (EGM) is scheduled for October 29, 2025, to seek shareholder approval for the preferential issue and related matters.
• Regulatory Approvals: The deal is subject to approvals from various regulatory bodies, including the Reserve Bank of India, Securities and Exchange Board of India, and the Competition Commission of India.

Market Response

Sammaan Capital's shares have shown positive momentum, gaining 5% on October 1, extending a six-session rally of 25%. This upward trend reflects investor optimism about the strategic partnership.

Corporate Governance Changes

• Board Representation: Upon categorization as a 'promoter', IHC will have the right to appoint nominees to Sammaan Capital's board of directors.
• Articles of Association: Amendments to the company's Articles of Association will be made to incorporate certain rights for IHC, including nomination rights on the board and committees, pre-emption rights, and information rights.

Conclusion

This strategic investment by IHC in Sammaan Capital represents a significant foreign investment in India's financial services sector. It not only brings substantial capital but also the potential for global expertise and expansion opportunities. As the deal progresses through regulatory approvals and shareholder consent, it will be closely watched by market participants for its impact on the Indian financial landscape.

Sammaan Capital , formerly known as Indiabulls Housing Finance Limited, has seen its shares gain significant momentum in recent trading sessions. The stock has rallied 25% over six consecutive trading days, with a notable 5% increase on Wednesday alone. This surge comes amidst several key developments for the company.

Board Meeting to Consider Fund Raising

The company's board is scheduled to meet on Thursday to consider fund raising proposals. These proposals may involve equity securities or other convertible instruments, signaling potential growth plans for Sammaan Capital.

Institutional Buying Boosts Confidence

A major catalyst for the stock's recent performance was the bulk purchase by ICICI Prudential Mutual Fund. The fund acquired 42 lakh shares at ₹151.95 per share in bulk deals on Monday, demonstrating institutional confidence in the company's prospects.

Leadership Changes

Sammaan Capital has appointed Himanshu Mody as the deputy CEO, effective September 4. This leadership addition could bring new perspectives and strategies to the company's operations.

Ambitious Growth Projections

The company has set ambitious targets for its assets under management (AUM):

Strategic Focus on Portfolio Quality

Sammaan Capital aims to improve its portfolio quality by reducing its legacy book contribution:

Financial Outlook

The management anticipates stabilizing credit costs:

Stock Performance

• September marked the stock's best monthly performance with 29% gains since August 2023.
• Shares closed at ₹168.55, up 4.8% in the latest trading session.
• The stock remains under F&O ban restrictions.

Trading Window Closure

As per the latest LODR filing dated September 30, 2025, Sammaan Capital has announced the closure of its trading window for insiders. The window will remain closed until 48 hours after the declaration of un-audited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. This standard practice ensures fair trading and prevents insider trading during sensitive financial periods.

Investors and market participants will be closely watching Sammaan Capital's upcoming board meeting and subsequent announcements regarding fund raising plans, which could further impact the stock's performance in the near term.