Abu Dhabi-based International Holding Company (IHC) will acquire a 41.2% controlling stake in Sammaan Capital, the Indian housing finance company formerly known as Indiabulls Housing Finance, for $1 billion (₹8,850 crore).
The deal will make IHC the company’s promoter, giving it the right to appoint a majority of the board of directors.
The acquisition will be carried out through IHC’s affiliate, Avenir Investment RSC Ltd., via a preferential allotment. Under the arrangement, IHC will subscribe to 330 million equity shares and 306.7 million convertible warrants of Sammaan Capital at ₹139 each. The transaction is subject to approvals from the Reserve Bank of India and the Competition Commission of India. Additionally, it will trigger a mandatory open offer to acquire up to 26% of the company’s shares from existing shareholders.
Sammaan Capital, listed on the Bombay Stock Exchange and the National Stock Exchange of India, is one of the country’s largest non-banking financial companies (NBFCs) with a focus on mortgage lending. The company operates over 220 branches in more than 150 towns and cities and employs over 4,400 people. Over the past 25 years, Sammaan Capital has disbursed home loans worth over $19 billion to more than 680,000 families and provided mortgage-backed loans exceeding $9.5 billion to over 100,000 small businesses.
Gagan Banga, Vice-Chairman and Managing Director of Sammaan Capital, said the investment by IHC will help the company expand into a full-service financial institution and strengthen its ability to serve India’s aspiring middle-class and underserved segments. He noted that partnering with a global player like IHC would bring additional resources and credibility to the company.
IHC, owned by the Abu Dhabi ruling family, has rapidly grown into one of the region’s largest holding companies, with investments across finance, healthcare, real estate, and manufacturing. The acquisition of Sammaan Capital is part of the company’s strategy to diversify into emerging markets and strengthen its financial services portfolio. Syed Basar Shueb, CEO of IHC, said the investment reflects confidence in India’s long-term economic growth and the potential of its financial sector. He also highlighted plans to leverage technology and artificial intelligence to enhance lending and credit solutions at Sammaan Capital.
Market analysts say the deal marks the largest foreign investment in India’s NBFC sector in recent years and could pave the way for more cross-border transactions in financial services. The deal is also expected to increase access to capital for underserved populations and expand the company’s lending capacity in India’s growing housing finance market.
The regulatory process for the acquisition is underway, and the transaction is expected to close in the coming months. Once completed, IHC will assume control of the company’s operations, setting the stage for strategic expansion and diversification.
Also Read: P&G Pulls Plug on Pakistan Ops as Multinational Exit Deepens