Sammaan Capital Limited, formerly Indiabulls Housing Finance, has officially transitioned into the IHC Group. Following a transaction closed on March 31, 2026, IHC has become the promoter of the company with a 28.5% equity stake. This strategic infusion of ₹5,652 crore, with an additional ₹3,198 crore expected via warrant conversion, is set to bolster the company’s financial position and fuel long-term growth across its diversified retail lending portfolio.
Strategic Partnership and Equity Infusion
The transition marks a pivotal milestone for Sammaan Capital as it integrates with the IHC Group. The recent investment has provided an immediate cash infusion of ₹5,652 crore ($592 million). Upon the conversion of warrants over the next 18 months, IHC’s equity ownership is projected to increase to 43.5%. This development has already been recognized under the India–UAE bilateral engagement framework, signaling strong international confidence in India’s financial sector.
Financial Outlook and Credit Upgrades
The partnership has triggered a swift improvement in the company’s credit profile. Within just 50 days of the investment, major rating agencies CRISIL, CARE, and ICRA have upgraded Sammaan Capital to AA+/Stable. This rating action has already led to a tightening of bond yields by approximately 100 basis points, significantly reducing the company’s cost of funds.
Operational Transformation and Growth Vision
Leveraging IHC’s global expertise, Sammaan Capital is embarking on a comprehensive digital and AI-led transformation. The company aims to improve credit underwriting efficiency and reduce loan turnaround times from the current 5-7 days to just 2-3 days by FY27. The strategic vision includes scaling from the current 15+ products to a full-suite lending platform with aggressive expansion targets: reaching ~1,600 branches and ~20,000 employees by FY30.
Balanced Growth Strategy
Sammaan Capital is maintaining a disciplined approach to risk, with a target portfolio mix of 60% secured retail lending, 20% unsecured/semi-secured, and 20% commercial/wholesale. The company has committed to maintaining a CRAR of >20% and a gearing ratio capped between 3.5x and 4x. With an opening AUM of ₹53,160 crore and a 1.6% ROA, management is focused on scaling its business through both organic and inorganic opportunities while maintaining a dividend payout policy of at least 25% of PAT.
Source: BSE
