IHC Invests ₹8,850 Crore in Sammaan Capital via Preferential Issue

International Holding Company PJSC (“IHC”), a global investment company focused on building dynamic value networks and the most valuable holding company in the Middle East (ADX:IHC, market cap. ~US$240 bn, ~INR 21.3 lakh crore), today announced that it has entered into definitive agreements to acquire a controlling stake of 41.2% stake in Sammaan Capital (“SCL”, “Company”) for a total consideration of INR 8,850 crore (approx. AED 3.67 bn) through its affiliate, Avenir Investment RSC LTD.

The transaction marks IHC’s foray into the financial services sector in India and represents the largest ever primary capital infusion by an investor in a non-bank financial company in India.

The investment and Promoter ownership of IHC is expected to fuel the next leg of growth for Sammaan Capital on the back of long-term patient capital, deeper access to low-cost liabilities and an improved credit rating.

As part of the transaction, IHC will be investing INR 8,850 crore in Sammaan Capital via a preferential allotment of equity shares and warrants at a price of INR 139 per share. The transaction will trigger a mandatory open offer for the purchase of an additional 26.0% stake in the Company on an expanded capital basis. Based on the open offer subscription, IHC’s stake post the investment will vary between 41.2% to 63.4% on a fully diluted basis (including shares to be issued pursuant to exercise of warrants). IHC will be classified as Promoter of the Company post the investment and will have the right to appoint majority of the Board of Directors. The transaction is subject to the regulatory and statutory approvals and customary closing conditions.

Syed Basar Shueb, CEO of IHC, commented: “India represents a core strategic market for us, and its long-term growth fundamentals are compelling. We have been impressed by Sammaan Capital’s leadership in enabling home ownership and empowering small businesses across the country. This USD 1 billion investment reaffirms our commitment to supporting Sammaan Capital in its next phase of development, including the adoption of AI to enhance lending and credit solutions, and to contributing meaningfully to India’s financial ecosystem.”

Mr. Gagan Banga, Managing Director and CEO of Sammaan Capital, said “Sammaan Capital’s journey has been defined by resilience, adaptability, and an unwavering commitment to creating stakeholder value. We are proud to join the IHC family and contribute to its expansive global vision. Under IHC’s parentage, we will continue to focus on providing affordable housing finance and mid-market mortgage solutions to our customers, leveraging IHC’s strong technology capabilities. The alignment of aspirations between IHC and Sammaan Capital is deeply encouraging, and we are confident that our experienced and dynamic leadership will propel the next phase of growth with renewed energy and purpose.”