Sammaan Capital Limited, formerly known as Indiabulls Housing Finance Limited, has announced the appointment of Himanshu Mody as its new Deputy CEO, effective September 4, 2025. This strategic move brings a seasoned financial expert with a proven track record of corporate turnarounds to the company's leadership team.

A Wealth of Experience

Himanshu Mody joins Sammaan Capital with an impressive 26-year career in corporate finance, having held key positions at renowned companies such as Barclays, Essel Group, Bennett Coleman, and most recently, Suzlon Group. His extensive experience spans various sectors, demonstrating versatility and adaptability in complex financial environments.

Remarkable Achievements at Suzlon

Mody's appointment comes on the heels of his successful tenure as Group CFO at Suzlon Group, India's largest renewable energy solutions provider. During his four-year stint, he orchestrated a remarkable financial turnaround that resulted in:

• A 22-fold increase in Suzlon's market capitalization, reaching approximately Rs. 1.00 lakh crore
• Restructuring of debt, leading to a zero-debt status for the company
• Successful equity and debt fundraising initiatives
• Securing Rs. 7,000.00 crores in working capital facilities
• Improving the company's credit rating from D to A-
• Achieving a positive net worth of Rs. 4,500.00 crores
• Maintaining a cash balance of Rs. 2,000.00 crores

Recognition and Expertise

Mody's exceptional performance at Suzlon earned him recognition as the Turnaround CFO of 2024 by both Economic Times and CII. His expertise extends across various finance functions, including:

• Strategic planning
• Mergers and acquisitions
• Capital raising
• Debt restructuring
• Operational leadership

Educational Background

Himanshu Mody holds a Masters in Science and Finance from the University of Strathclyde, Glasgow, providing him with a strong academic foundation in addition to his extensive practical experience.

Impact on Sammaan Capital

The appointment of Himanshu Mody as Deputy CEO signals Sammaan Capital's commitment to growth and attracting top-tier talent. His proven capabilities in capital raising and operational leadership are expected to serve as catalysts for the company's future growth and financial stability.

Amit Jain, Company Secretary of Sammaan Capital Limited, confirmed the appointment in a regulatory filing, emphasizing the company's focus on strengthening its leadership team to drive future success.

As Sammaan Capital Limited embarks on this new chapter with Himanshu Mody at the helm of its operations, stakeholders will be keenly watching to see how his expertise and track record in financial turnarounds will shape the company's strategic direction and financial performance in the coming years.

Sammaan Capital , formerly known as Indiabulls Housing Finance Limited, has announced an ambitious fundraising plan following a board meeting. The company's board has greenlit proposals to raise up to Rs 40,000.00 crore through various debt instruments, signaling a significant move to bolster its financial position and support future growth initiatives.

Fundraising Details

The board's approval encompasses two major components:

1. Non-Convertible Debentures (NCDs) and Bonds: The company has received authorization to raise up to Rs 30,000.00 crore through secured and/or unsecured redeemable non-convertible debentures (NCDs) and bonds. This issuance will be conducted on a private placement basis and will be executed in multiple tranches over the course of one year, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

2. Additional Debt Instruments: Sammaan Capital has also secured approval to raise up to Rs 10,000.00 crore through various debt instruments. These include debentures, bonds, external commercial borrowings (ECBs), and other non-convertible securities. The company plans to raise these funds through public offers or private placements, either in domestic or international markets.

Implementation and Oversight

The board has empowered its existing Securities Issuance and Investment Committee to oversee the fundraising process. This committee will be responsible for evaluating various options and implementing the fundraising strategy in a manner most beneficial to the company. Key decisions, including the type of offering, terms and conditions, security arrangements, issue size, pricing, and timing, will fall under the committee's purview.

Corporate Governance Updates

In addition to the fundraising approvals, the board meeting also addressed several corporate governance matters:

• Appointment of Secretarial Auditors: M/s Neelam Gupta & Associates, a practicing company secretarial firm, has been appointed as the Secretarial Auditors for a five-year term, subject to shareholder approval.

• Organizational Structure: The position of Vice-Chairman has been abolished to reinforce the company's commitment to collaborative governance and equality at the board level. Mr. Gagan Banga will continue his role as Managing Director and CEO.

• Dividend Update: Due to a consolidated loss, despite standalone profits, the board has decided not to recommend a final dividend, adhering to RBI guidelines for NBFCs.

Market Response

The stock market's initial reaction to these developments was slightly negative, with Sammaan Capital's shares closing 0.54% lower at Rs 138.61 on the National Stock Exchange (NSE). However, it's worth noting that the stock has seen a significant uptick of nearly 18% following its inclusion in the futures and options segment.

Annual General Meeting

Sammaan Capital has scheduled its Twentieth Annual General Meeting to be held virtually at 11:00 A.M. (IST). The Register of Members and Share Transfer Books will be closed for four days leading up to the AGM.

As Sammaan Capital embarks on this substantial fundraising initiative, investors and market watchers will be keenly observing how the company utilizes these funds to drive growth and strengthen its market position in the competitive financial services sector.