Sammaan Capital Limited submitted the Monitoring Agency Reports from CRISIL Ratings Limited for the quarter ended December 31, 2025. The reports detail the utilization of proceeds from the previous Rights Issue and the recent Qualified Institutional Placement (QIP). For the Rights Issue, no proceeds were utilized during the reported quarter. For the QIP, no proceeds were utilized either, as the funds are being held pending deployment for augmenting the capital base.
Monitoring Agency Report Submission Summary
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has filed the requisite Monitoring Agency Reports with the stock exchanges (NSE and BSE) dated February 9, 2026. These reports, issued by CRISIL Ratings Limited, cover the utilization of funds raised through the Rights Issue and the Qualified Institutional Placement (QIP) for the quarter ending December 31, 2025.
Rights Issue Proceeds Monitoring (Q3 FY2025-26)
The Rights Issue, which concluded in February 2024, involved gross proceeds of Rs 36,933.98 million (Net proceeds of Rs 36,134.68 million). The stated objects were primarily augmenting the capital base and General Corporate Purposes (GCP).
Rights Issue: Utilization Status
For the quarter ended December 31, 2025, the Monitoring Agency noted that no proceeds were utilized.
- Augmenting Capital Base: Total utilization remains at Rs 27,108.81 million out of the proposed Rs 27,341.10 million. The unutilized amount is Rs 232.29 million.
- General Corporate Purposes (GCP): Total utilization remains at Rs 8,722.22 million out of the revised Rs 8,793.58 million. The unutilized amount is Rs 71.36 million.
- Total Unutilized Proceeds: The total unutilized amount from the Rights Issue stood at Rs 303.64 million as of the reporting date.
Deployment of Unutilized Rights Proceeds
Based on management undertaking, the unutilized funds pertaining to net proceeds amounted to Rs 15.94 million, which was held in a monitoring account balance (HDFC A/C 57500001557168). The market value as at December 31, 2025 was Rs 2.11 million, though the status of earnings and return on investment for this small amount was marked as ‘NA’.
QIP Proceeds Monitoring (Q3 FY2025-26)
The QIP, which took place in January 2025, involved gross proceeds of Rs 13,000 million (Net proceeds of Rs 12,648.9 million). The primary object was augmenting the capital base.
QIP: Utilization Status
For the quarter ended December 31, 2025, the Monitoring Agency confirmed that no proceeds were utilized from the QIP.
- Augmenting Capital Base: Total utilization remains at Rs 9,593.90 million out of the proposed Rs 9,593.90 million. The unutilized amount is Nil, as funds were fully utilized by the end of the quarter ending March 31, 2025.
- General Corporate Purposes (GCP): Total utilization remains at Rs 3,039.06 million out of the proposed Rs 3,055.00 million. The unutilized amount is Rs 15.94 million.
- Total Unutilized Proceeds: The total unutilized amount from the QIP stood at Rs 15.94 million.
Deployment of Unutilized QIP Proceeds
The unutilized QIP proceeds of Rs 15.94 million were held in a monitoring account balance (RBL account). The total balance in the monitoring account as of December 31, 2025 was Rs 329.26 million, which includes the Rs 15.94 million from the QIP proceeds and Rs 313.32 million earmarked for issue expenses.
Compliance Confirmation
In both reports, the Monitoring Agency confirmed that there were No Comments from the Board of Directors regarding utilization during the quarter and noted that there were no deviations from the objects disclosed in the Offer Documents for either issuance.
Source: BSE
