IHC Acquires 41.2% Stake in Sammaan Capital for INR 8,850 Cr The investment aims to fuel Sammaan Capital's next phase of growth by providing long-term patient capital, enhanced access to low-cost liabilities, and improved credit ratings.
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International Holding Company PJSC (IHC), the Middle East's largest holding company, has announced its acquisition of a 41.2 percent stake in India's Sammaan Capital Limited (SCL) for INR 8,850 crore.
The transaction, executed through IHC's affiliate Avenir Investment RSC LTD, marks a major step in the company's expansion into India's financial services sector.
This move represents the largest primary capital infusion by an investor in a non-bank financial company in India, the company said in a press release.
The investment aims to fuel Sammaan Capital's next phase of growth by providing long-term patient capital, enhanced access to low-cost liabilities, and improved credit ratings.
As part of the transaction, IHC will acquire shares through a preferential allotment at INR 139 per share, alongside warrants. A mandatory open offer for an additional 26 percent stake on an expanded capital basis will follow, potentially increasing IHC's total holding to between 41.2 percent and 63.4 percent on a fully diluted basis.
Post-investment, IHC will assume the role of Promoter for Sammaan Capital, granting it the right to appoint the majority of the company's Board of Directors. The transaction is subject to customary regulatory and statutory approvals.
Syed Basar Shueb, CEO of IHC, said, "This USD 1 billion investment reaffirms our commitment to supporting Sammaan Capital in its next phase of development, including the adoption of AI to enhance lending and credit solutions, and to contributing meaningfully to India's financial ecosystem."
Gagan Banga, Managing Director and CEO of Sammaan Capital, added, "Under IHC's parentage, we will continue to focus on providing affordable housing finance and mid-market mortgage solutions to our customers, leveraging IHC's strong technology capabilities. The alignment of aspirations between IHC and Sammaan Capital is deeply encouraging, and we are confident that our experienced leadership will propel the next phase of growth with renewed energy and purpose."
Founded in 1999, IHC has grown into a global investment powerhouse with a market capitalisation of USD 240 billion, spanning over 1,300 subsidiaries across industries including asset management, healthcare, real estate, financial services, and IT. The company is recognised for creating sector-agnostic value networks that amplify the impact of its investments.
Sammaan Capital, established in 2000, is among India's largest non-bank lenders, operating through 220 branches across more than 150 towns and cities.
Over 25 years, SCL claims to have provided over USD 19 billion in home loans to more than 680,000 families and USD 9.5 billion in mortgage-backed loans to over 100,000 small businesses, underpinned by a stable and experienced management team.
