Sammaan Capital Limited has successfully allotted ₹280 Crore worth of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) via a private placement basis on March 5, 2026. The issuance comprised two series: Series I (Re-Issuance) amounting to ₹125 Crore with a 5-year tenor and an 8.8570% coupon, and Series II (Fresh Issue) amounting to ₹155 Crore with a 10-year tenor and a 9.20% coupon. The NCDs are secured by a first pari-passu charge over specified assets.
NCD Private Placement Allotment
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) announced the allotment of Non-Convertible Debentures (NCDs) on a private placement basis on March 5, 2026, following board authorization and committee resolutions. The total issuance aggregated INR 280,00,00,000 (Rupees Two Hundred Eighty Crore only).
Series I NCD Details (Re-Issuance)
The Series I Issue consisted of 12,500 NCDs totaling INR 125,00,00,000. These securities are categorized as Secured, Rated, Listed, Taxable, Redeemable, Fully Paid-up Non-Convertible Debentures. The original tenor was 5 years, resulting in a re-issuance tenor of 4.77 Years, maturing on December 09, 2030. The applicable coupon rate is a fixed rate of 8.8570% per annum, payable quarterly. The ISINs associated are INE148107YH4 (Permanent) and IN814810791 (Temporary).
Series II NCD Details (Fresh Issue)
The Series II Issue involved 15,500 NCDs aggregating to INR 155,00,00,000. These are also Secured, Rated, Listed, Taxable, Redeemable, Fully Paid-up Non-Convertible Debentures. The tenor for this series is 10 Years, with a maturity date of March 05, 2036. The coupon rate is a fixed rate of 9.20% per annum, payable annually. The ISIN for Series II is INE148107YK8.
Security and Covenants
Security for both series is established via a charge by way of hypothecation on the financial and non-financial assets of the Company, including loan assets, on a first pari-passu basis with other secured lenders. Importantly, this security excludes certain High Quality Liquid Assets as per the RBI LRM Framework. The NCDs are mandated to maintain a minimum asset/security cover of one point one (1.1) time of the principal amount and accrued interest thereon.
In the event of a default in interest or principal payment, the Company is obligated to pay an additional interest of at least @ 2% p.a. over the coupon rate for the defaulting period.
Illustrative Cash Flows Summary
The Series I NCDs involve 19 coupon payments concluding with the final principal and interest payment on December 09, 2030. The payment frequency is Quarterly. The Series II NCDs involve 10 annual coupon payments, with the final principal and interest payment scheduled for March 05, 2036, payable Annually.
Source: BSE
