Sammaan Capital Limited has released its Monitoring Agency Reports for the quarter ended March 31, 2026. These reports provide updates on the utilization of proceeds from its Rights Issue, Qualified Institutional Placement (QIP), and Preferential Issue. As of the end of the quarter, the company reported that there was no utilization of funds from these capital-raising activities during the period, with the proceeds remaining largely held in designated monitoring accounts.
Quarterly Progress Overview
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has disclosed comprehensive monitoring reports for its recent capital-raising initiatives. These reports, prepared by CRISIL Ratings Limited, confirm that as of March 31, 2026, no funds from the Rights Issue, Qualified Institutional Placement, or Preferential Issue were deployed during the quarter.
Capital Utilization Status
The company maintains a strong liquidity position, with unutilized proceeds currently held in designated monitoring accounts. Specifically, the proceeds remain earmarked for their intended objectives, including augmenting the capital base and general corporate purposes. The reports verify that there have been no deviations from the stated objects of the issues as originally disclosed to investors.
Preferential Issue and Warrants
Regarding the Preferential Issue, the report notes that the company successfully received Rs 5,652.75 crore during the quarter. This includes the issuance of 330,000,111 equity shares and a combination of convertible warrants. While a portion of the subscription amount for the warrants has been collected, the remaining balance of approximately Rs 3,197.25 crore is expected to be received upon the conversion of these warrants, which will occur in accordance with the timelines set out in the issue documents.
Investor Outlook
Sammaan Capital continues to adhere to its defined funding strategy to support future business activities, such as onward lending and the strengthening of its balance sheet. As of the end of the quarter, the company remains compliant with all regulatory requirements regarding the monitoring of these proceeds, ensuring transparency for all stakeholders.
Source: BSE
