Avenir will be designated as a promoter and take control of Sammaan. The deal triggers a mandatory open offer for an additional 26 percent stake under Indian takeover norms. The transaction is contingent on approvals from the Reserve Bank of India, the Securities and Exchange Board, and the Competition Commission.
Sammaan Capital’s board has approved a preferential allotment to facilitate this deal and will hold an Extraordinary General Meeting on 29 October to seek shareholder consent and amend its articles of association accordingly.
Sammaan’s Managing Director & CEO, Gagan Banga, described the partnership as transformative: IHC’s backing would accelerate Sammaan’s evolution into a full-service financial services provider with deeper reach into underserved segments. Banga expects the infusion to lower the cost of funds and enhance governance standards.
From IHC’s perspective, the investment underscores its conviction in India’s credit and housing finance space. Syed Basar Shueb, CEO of IHC, said the deal affirms its commitment to leveraging AI and capabilities to support inclusive credit solutions in India’s fast-growing financial market.
Market reaction has been lukewarm: Sammaan’s shares fell about 3 percent following the announcement amid profit-booking. Analysts note that while promoter change could improve valuations, execution risks remain given regulatory conditions and integration demands.
Sammaan Capital currently operates via 220 branches across 150 towns and employs over 4,430 staff. Its AUM as of March 2025 stood at approximately ₹62,378 crore; its Q1 FY26 net profit was ₹334 crore.
IHC itself, founded in 1999, has grown into one of the Middle East’s most influential holding companies with a market capitalisation of roughly AED 881.6 billion. Its portfolio spans asset management, real estate, healthcare and technology across more than 1,300 subsidiaries.
Within India, this represents the largest primary capital infusion by a single investor into a non-banking financial company to date. Observers are closely watching the open offer outcomes, board nominations, and how swiftly the new promoter can drive strategic realignment without disrupting existing operations.
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