IHC buys into Indian NBFC
Abu Dhabi’s IHC is acquiring a 41.1% stake in Samman Capital with plans to push its holding toward 63.3%, signalling major Gulf capital interest in India’s nonbank finance sector (youtube.com). The deal is being framed as part of broader Gulf bets on India’s lending and fintech ecosystem amid regional capital redeployment (youtube.com).
IHC’s affiliate Avenir is funding the transaction with roughly ₹8,850 crore (about $1 billion) by subscribing to 330 million equity shares and about 306–307 million convertible warrants at ₹139 apiece. (moneycontrol.com) The deal triggered a mandatory SEBI open offer to buy 26% of the company’s expanded voting capital at ₹139 per share, an offer valued at about ₹4,750.38 crore if fully accepted. (sebi.gov.in) Sammaan Capital — the entity formerly known as Indiabulls Housing Finance — has announced a strategic shift to become a diversified NBFC and is targeting a top-three ranking by assets under management by fiscal 2029. (business-standard.com) The subscription agreement includes warrants structured in two tranches, with one tranche exercisable within 26 weeks and the second exercisable up to 18 months from allotment. (investywise.com) IHC’s investment will install its affiliate as the company’s promoter with the ability to appoint a majority of directors, a move described by some outlets as the largest primary capital infusion into an Indian NBFC. (cnbctv18.com) Sammaan’s stock jumped about 4% on the headlines, and exchange filings show the open-offer process is being run under established merchant-banking procedures, with Citigroup named as the open-offer manager in related filings. (msn.com)
