Sammaan Capital (formerly Indiabulls Housing Finance) reported its earnings update for the quarter ended September 30, 2025. The company is set to receive a primary capital infusion from International Holding Company (IHC). IHC will acquire a 41.2% stake in Sammaan Capital, subject to regulatory approvals. Sammaan’s growth strategy includes scaling up disbursals, widening product lines, and leveraging technology for deeper market penetration.
IHC Investment and Strategic Shift
International Holding Company (IHC), based in Abu Dhabi, is investing in Sammaan Capital through its indirectly owned entity, Avenir Investment RSC Ltd. IHC will acquire a 41.2% stake in Sammaan Capital. The transaction is expected to conclude by March 31, 2026, pending regulatory approvals. The transaction involves a preferential issue and an open offer to public shareholders.
Financial Performance Highlights
Key figures for Q2 FY26 compared to Q2 FY25:
- Net Worth: ₹22,373 Cr (up from ₹19,979 Cr)
- Growth AUM: ₹41,719 Cr (up from ₹32,010 Cr)
- Total AUM: ₹64,004 Cr (up from ₹62,928 Cr)
- NII: ₹975 Cr (down from ₹1,187 Cr)
- PBT: ₹425 Cr (down from -₹3,685 Cr)
- PAT: ₹308 Cr (down from -₹2,761 Cr)
The company’s Gross NPA is 1.4% and Net NPA is 0.8% as of Q2FY26.
Growth Strategy and Outlook
Sammaan Capital aims to scale annual disbursals to ₹35,000 Cr by FY27. The company plans to expand its product lines and leverage technology for end-to-end online loan fulfillment. The company also intends to deepen its physical distribution network, increasing branches to 570.
Liability Transformation
Sammaan Capital recently raised $450mn through a 5-year bond at 7.5% coupon. Credit rating upgrades are anticipated following the IHC investment. A 200 bps reduction in the cost of funds is expected to increase PAT by 50%+.
Company Information
Sammaan Capital Limited (formerly Indiabulls Housing Finance Limited) has received shareholder approval for the IHC preferential issue. The company is awaiting regulatory approvals including from the RBI and CCI.
Source: BSE