Rs 8,849 Cr Deal: THIS company to acquire 43.46% stake in Sammaan Capital – Details

Rs 8,849 Cr Deal: Abu Dhabi-based investor Avenir Investment RSC, an affiliate of International Holding Company (IHC), has signed a deal to acquire a 43.46 per cent stake in Sammaan Capital for USD 1 billion (Rs 8,849 crore). The non-bank lfinisher, formerly known as Indiabulls Houtilizing Finance, confirmed the development in an exalter filing on Thursday.

Record NBFC investment in India

The infusion will be created through a preferential issue of equity shares and warrants after necessary approvals. According to the company, this represents the largest-ever primary capital investment by an overseas player in an Indian non-bank financial company (NBFC).

The transaction marks IHC’s first foray into India’s financial services sector. Sammaan Capital stated the partnership will strengthen its balance sheet, provide deeper access to low-cost liabilities, improve its credit profile, and support long-term growth.

Add Zee Business as a Preferred Source

Structure of the investment

Avenir will be allotted over 63 crore shares, representing 43.46 per cent ownership in the company. The capital raise is structured in three parts:

Equity shares: 33 crore shares priced at Rs 139 each, raising Rs 4,587 crore.

First tranche of warrants: 8.60 lakh warrants priced at Rs 139, raising Rs 1,207 crore. Each warrant entitles Avenir to one equity share.

Second tranche of warrants: 21.97 crore warrants at Rs 139 each, bringing in Rs 3,055 crore.

The preferential allotment will also trigger a mandatory open offer under Indian takeover regulations, allowing Avenir to acquire up to an additional 26 per cent stake in the company.

Change in control and governance

Following the deal, Avenir will acquire and exercise control over Sammaan Capital and will eventually be recognized as a promoter of the company. The agreement also provides for amfinishments to the articles of association, giving Avenir the right to nominate directors to the board.

“This partnership brings long-term patient capital and strong global backing, positioning Sammaan Capital for the next leg of growth,” the company stated in a statement.