The non-banking financial company (NBFC) said that IHC, through its affiliate, Avenir Investment RSC, will become its promoter by acquiring a 41.5% stake via preferential allotment of equity shares and warrants. An additional Rs 3,198 crore will later be paid by IHC within a period of 18 months upon conversion of the warrants into fully paid equity shares.
This comes after the Reserve Bank of India (RBI) and market regulator Sebi approved the proposed acquisition of a controlling stake of 66.65% by Avenir Investment RSC, owned and controlled by Abu Dhabi-based International Holding Company (IHC).
Avenir Investment RSC had proposed to invest nearly Rs 8,850 crore by way of a preferential issue. This is one of the largest investments by a Middle Eastern entity in India’s financial services sector.
In its latest exchange filing, Sammaan Capital said that Avenire will work on concluding the open offer at Rs 139 per share within 30 days. It called IHC’s investment a “significant milestone”, which elevates it into a select group of large upper-layer NBFCs backed by a multinational conglomerate. “As a strategic Promoter, IHC brings substantial capital, global funding networks and institutional relationships that will meaningfully enhance Sammaan Capital’s financial flexibility and support its growth ambitions,” it said.
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Pure-play mortgage financier to diversified NBFC
“Sammaan Capital shall transition from a pure-play mortgage financier to a diversified NBFC by targeting mid to low- income borrowers through its expanding pan India branch network offering products going beyond mortgage loans to retail products including secured/unsecured MSME, personal loans, business loans, gold loans, etc,” it said, adding that it has set strong business growth targets for itself.
The NBFC aims to increase its loan products to more than 15 by FY29, from the current 4 products, and increase its branch network more than seven times to over 1,500 by the financial year 2029.
As part of IHC’s broader global financial services strategy, the Abu Dhabi-based company has established a dedicated subsidiary, Judan Financial, which manages over Rs 22.4 lakhs crores (USD 235 billion) in assets. Sammaan Capital will be consolidated as a core investment under Judan Financial within the IHC group, the company said.
Here’s what management said
“This milestone marks an important step in our long-term strategy to expand in India’s financial services sector. By becoming a promoter of Sammaan Capital, we are reinforcing our commitment to long-term value creation and supporting a platform that plays a critical role in enabling home ownership and access to credit. We see significant opportunities to enhance capabilities, including through the adoption of AI, and to contribute meaningfully to India’s financial ecosystem,” said IHC CEO Syed Basar Shueb.
Sammaan Capital CEO Gagan Banga formally welcomed IHC as the company’s promoter. “Having an institution of IHC’s standing as our parent company provides a strong foundation for the future — one that extends well beyond financial backing. IHC brings in the highest standard of world-class governance practices, compliance and risk management framework, which we shall implement,” he said.
The company’s chief executive said that the growth strategy will operate with the foremost philosophy of ‘customer first’. “We will be committed to responsible lending practices by staying connected to communities and ensuring that we make a positive difference towards the society for every loan that we disburse. Over the next few years, investments in people and digital landscape, especially artificial intelligence, shall be augmented on priority,” he further said.
The Abu Dhabi-headquartered IHC is backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security advisor and one of the most powerful financiers in the world. IHC, the largest listed company in the UAE, has been on an aggressive acquisition spree globally. In India, it has already made large-ticket bets, including a $2 billion investment in Adani Group companies through preferential allotments in 2022, and more recently, a minority stake in Haldiram Snacks Foods in partnership with Alpha Wave Global. In 2025, the group also launched a $1 billion reinsurance joint venture with BlackRock.
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Sammaan Capital is a mortgage-focused non-banking finance company (NBFC) and services 1.6 million customers through 220 branches. The shares of the company have fallen more than 2% in the past five days, but gained around 2% in the past month.
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