Sammaan Capital Limited has received a credit rating upgrade of two notches from CARE Ratings, moving its long-term debt programme to ‘CARE AA+; Stable’. This positive action follows similar upgrades by CRISIL and reflects the company’s strengthened capital position and the strategic backing of its new promoter, International Holding Company (IHC). The upgrade underscores the company’s improved financial profile and positive trajectory within the Indian mortgage finance sector.
Upgrade in Credit Outlook
Sammaan Capital Limited (formerly Indiabulls Housing Finance) has announced a significant improvement in its credit profile. CARE Ratings has upgraded the long-term debt programme by two notches to ‘CARE AA+; Stable’. Additionally, the company’s perpetual debt instruments have seen an upgrade to ‘CARE AA/Stable’ from ‘CARE A+’, while the Commercial Paper and Short-Term Non-Convertible Debentures remain reaffirmed at the highest rating of ‘CARE A1+’.
Strategic Factors Behind the Rating
The rating agency highlighted several key factors supporting this upgrade. These include the strategic importance of the company within the broader financial services roadmap of International Holding Company (IHC), and the commitment from the group to provide ongoing financial, strategic, and operational support. Furthermore, the company was recognized for its established track record in mortgage finance, a robust management team, and a solid capital structure bolstered by recent equity infusions.
Impact of Ownership Change
This credit improvement coincides with the transition of ownership, where International Holding Company (IHC) has become the promoter of the company through its entity, Avenir Investment RSC Ltd. This shift, following a preferential issue and the acquisition of a controlling stake, has been instrumental in strengthening the company’s overall credit fundamentals. The current upgrade, coupled with a similar rating action by CRISIL on April 9, 2026, signals a sustained upward momentum for the firm’s financial standing.
Source: BSE
